You’re absolutely correct—at REI Nation, we purchase properties in our name, handle complete renovations, and then present them to investors once the work is finished.

You should be looking for a light rehab project that you can finish up quick and get some experience under your belt so that you can get better terms for those more aggressive projects.

I would just double-check the finishes of sold comps to make sure they are in line with your property.What is your budget for all that work?

An example would be adding a suite to an unfinished basement or adding another bedroom to an already finished suite.

I don’t know if I should keep pumping up the numbers in my 401k and getting the tax benefits, or lower my contributions and out money into a high interest savings account for my next down paymentIf you take the time to finish all the units, you will be able to cash out refi and hopefully take more money with you and leave nothing in.

The CMA shows properties like it valued at 210K.The cons are I have not had a contractor in the property (plan on having that asap, multiple subs if needed and extending my inspection period), the inspector did not see unit 2 (3bd/2ba), but will come back and not charge to finish. 

Even if I was the senior lender for one of the new developments, in a downside scenario I wouldn't know what to do with the land / the half-finished or finished (but unsale-able for whatever reason) inventory.Therefore - I don't want to invest / make a loan in the development JV itself - I would rather make a loan at the parent-co level where there is collateral in the form of completed properties that are generating rental cash flow - they do have mortgages on them. 

Once finished then you'd be able to get a tenant in there and refinance into a DSCR loan.

I think there are many over looked opportunities like mother in law suites, finished basements with walk out, finished garage, or building an ADU, renting to room mates to offset cost, etc.

Currently in the process of having one of the vacant units renovated with higher end finishes than were previously used.