2 houses at one time Rehab funding

[Michael Williams]

I quit my job today to pursue real estate investing full time, so I am very serious. I have been casing 5 properties in my area that I know I can get for the taxes or dirt cheap. My goal is to purchase the two best ones cash with a portion of my retirement money. I have located the owners on all of them and sent my first formal letters last week. Will be sending the second mailing this weekend. The two I want to get are owned by the same person and are next door to each other. I am aggressively going after these two properties because I have been passing them for about 18 months and know that they are inherited and unwanted properties. The city they are located in is a small town outside of Atlanta and the entire Atlanta area is a melting pot magnet for people and businesses.

The Plan
My goal is to get both of these properties for under $20k and budget between about $70k - $80k of hard money to bring them to like new condition. At this point I am estimating $40K rehad for one and $35k rehab for the other (these are guesses until I get a proper appraisal from a contractor). The ARV for one is roughly 120k and the others ARV is roughly 110k, but I will be more accurate when I have my realtor comp them for me. Since I will be getting them so cheap there will be a lot of profit. The goal is to retail both in about 6 months, which will put the sell around May. The profit margin after the sell on these properties would be ridiculously attractive to a lender and would be a good start to my eventual buy and hold business model.
$230k Retail Both Properties
-$80k Loan
$10k points Interest
$140k
-$20k investment
-$7k Fudge Factor
$113k PROFIT
Worst case scenario I can run over by $30k or get less at retail and still make $80k profit

The question:
Is it possible to structure this as one deal to a hard money lender or are there laws or rules in Georgia preventing me from funding both as one? Or is this at the lenders discretion? Do I need to retail one in my name and the other in my wife or son's name to avoid gains taxes on second sell?

What other factors do I need to consider?
If you where a hard money lender and I am a first time rehabber, would you fund this deal? If so why? And if NOT why? What terms would you insist on as the lender? Would you recommend a contractor? What would you require from me personally? 

[Wayne Brooks]

You won't get this as one deal, and you don't want it as one loan. Apparently, you haven't even talked to the owners yet, you have no idea what price they may want, what kinds of liens may be attached to the property, and there is a good likelihood no one has the actual authority to sell these properties, as probate may not have been opened, etc.  Don't be counting the chickens just yet, keep looking for other deals.