As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

I think tracking productivity will be tough unless you have someone on site that is checking their work at the end of the day and documenting their progress. 

your on the right track then.. just compare costs and time involved.. then move forward

We purchased this as a BRRRR on a Line of Credit, went to do a few fixes then refinance.

That's not to say all of them, there are definitely a lot of professional and successful residential GCs (take a look at some of the guys commenting above, their track records are impressive).

This only applies to 3-4 unit properties.I think you are on the right track, as this is an equity play.

@Iris Olivas Most local banks/credit unions can do this deal with lower fees and potentially rates than brokers.

We use this along with NY fed report on delinquencies and track bankruptcies as well.

CA there is NO possibility of a deficiency judgement on a purchase money owner occ loan.. borrower can walk and the worse that happens is their credit will have a foreclosure if the bank goes that route or a deed in lu. 

With your good credit you can get in to a home for just a few % down.