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?