It is a standard conventional loan and was offered as a promotional financing by builder at the rate of 5% for investors. 

I also will have a big promotion at work coming up that I will need to prepare for. 

Sounds like you need to have a relationship with a couple of good contractors, 40k for vinyl siding sounds high, what was the material cost.  

Then you can avoid the self promotion issue. 

And does the person doing the labor get paid or only the materials paid for by the partnership?

While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.

Scope of WorkThe Subcontractor agrees to perform the following work (“Scope of Work”):Detailed description of tasks and responsibilities.Exclusions: [List any exclusions here].Materials to be provided by: [Contractor/Subcontractor].Reference drawings or plans: [Attach if applicable].2.

The Agreement should have a clause that buyer can cancel without penalty and with full refund of the security deposit if the signed letters are not returned to it by a certain deadline, or if subsequent tenant notifications materially change the economics of the deal.

Good morning Marelyn, can you please make an introduction to Jon McGraw i can share contract model, builder updates, and all materials i have with him so he can become aware of all details.

Now just realize it will STILL need to be demoed , they dont burn it to the ground , and demo guys hate dealing with burnt materials .