You have a “full” package including property(s) identified, acquisitions under contract, appraisals performed by MAI appraisers, historical financial statements, pro forma projections, surveys, title reports, feasibility studies3.

+I've researched something called an FHA Construction loan in terms of financing this project, but it seems that most large banks don't offer that product.

A tidy profit, plus confidence to tackle the next project solo.On the topic of self-directed IRAs: While they’re fantastic for gaining experience and diversifying into real estate over time, they can feel restrictive if your main goal is scaling quickly.Here’s what I’d focus on:Using Equity Wisely: A HELOC or cash-out refinance could unlock funds to pursue a flip or duplex without touching your 401(k).Partnering Smartly: Your realtor friend sounds like a great resource.

And you'll have the best rate/points options with a primary residence.Option #2 is great, especially if you're willing to move into one of the units (because the down payment minimum is just 5% or 3.5% depending on program), but as you mentioned it's really tough here to find small multifamily here.

Buying and selling MF on your own going to be pretty tough this gets you going and if by chance you like it and can start to represent buyers and sellers you will make some pretty nice commissions..

A lot of us are still here, but to be honest, it's pretty tough to navigate through the spam so things get lost in the shuffle.

Reach out if you need any advice or you have any project initiatives.

Thank you  Using a LOC on your primary residence can work well for flips if the terms are favorable and you’re confident in managing projects efficiently.

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

I'm just getting started but would like to connect with you someday on a project.