USA First time Home Builder

[superjtrdr]

I am building a house for resell that will be sold within 6 months and I have a few questions. Is the land an inventory asset? I paid in cash for half the lot as a down payment and financed the rest of the project via commercial loan. Are all closing cost including the bank loan origination fee part of the inventory asset or are those cost expensed a different way? And what about things like for example a home inspections or permits? Are those services accounted for?


Thanks in advance

 

[MoralesTax]

Are you in the business of constructing houses? Or is this an investment project, and not something you plan to do regularly?