Rehab exit strategy

[Account Closed]

Hi all, I've been perusing the forums but haven't really found the answer I'm looking for.

I just signed a contract to buy a house yesterday. My preference is to keep it- I'm a buy and hold guy. But that ties up my investment with very little cashflow, effectively taking me out of the market for an extended period.

$110k ARV
$64k sales price
$20k rehab

Terms: 1% origination, 15yr amortized, 5 year balloon (small local bank)
Potential rents: $1100/mo
My cash invested: $16k

The numbers above passed the "smell test" of my agent, inspector, and contractor, so I feel good about the chances of making $10k just rehabbing and selling.

One idea I'm thinking of is selling the note once the rehab is done. After sitting down with my lawyer, I have an understanding of the basics and am going to start shopping the idea around. Something amortized at 30 years with a 3 or 5 year call. One benefit to this is that I could save money on the rehab, for instance not replacing the roof until I'm ready to sell.

Does anyone have any other ways to free up my cash while keeping this house? Or suggestions on doing it this way?

Thanks!