He is a bit tired of working on this lot and said that he would be willing to let me take on the project (I would have to get the financing and manage it, he doesn't want to get the financing)  and we could then share the profits of the flip.

The ability to leverage your 100k over multiple projects makes it more attractive for additional RE income and also long-term appreciation.

@Sean Fisher The HUD FHA 223(f) insured mortgage program for apartment and multifamily properties is one of the best financing programs available.

It's also very important to get a brand of boiler that has reps in the area that can do a full proper startup and programming on the system.

I have not seen small condo projects because the construction defects law is not yet fixed so I think you will have a hard time finding insurance to build them.

The big complication is I have another flip project happening simultaneously with holding costs of ~$3400/mo.

@Justin Bock I do lending but would never touch a deal with a deal with a first timer doing that large of a project.

I wasn't sure how the whole refinance process worked so it's good to hear I should expect a 70% cash out of projected ARV.As far as weather, we've seen better days.

At Skandia Construction LLC, we will create a project plan at our first meeting that details every cost aspect of the project.

We currently own a couple rental properties along with working on a couple fix & flip projects here in California and Idaho.