I'm an investor and a licensed mortgage broker who has done fix and flips both using my home's equity and borrowing against the investment property.If you (1) have enough equity in your home to fully fund the deals, (2) don't mind tying that equity up for these deals vs saving it for a rainy day and (3) are ok linking the place you sleep with the success of the flips, this could make sense.We offer a ton of different fix and flip programs including putting 10% down on the purchase price and funding 100% of the rehab.

Depending on the costs and a build to rent approach could work if you'd be willing to hold the properties as rentals. 

The property is off grid, but already set up with solar and a compost toilet and things of that nature.

Quote from @Bryan Vukelich: Aloha @Lei Wei and as always, big mahalo @Andrew Steffens for recommending me.  

However, one of the other REITs I invested in quadrupled in price, and as a whole I’m $150,000 positive.  

I've talked to lots of California and a few NYC investors that have lost money (including myself) who bought inexpensive properties in the Midwest mostly and a few in the South (Class C is volatile). - some strategies I've seen California investors use to lessen negative cash flow: house hacking, mid-term rentals (people temporarily displaced from home renovation or insurance reasons like fire), rent by the room, Short Term Rentals. - The ultimate house hack, live in the small ADU unit and rent out the two levels of the main house on AirBnb in San Francisco (I would have thought STRs are oversaturated in S.F. but it worked for them and they stay fully booked).

Hey @Chris GarnesI just came across your post, and it immediately reminded me of a project I handled with a colleague in San Diego, Dennis Bragg - https://www.biggerpockets.com/business/page/3607  - You’re sitting on some serious potential with these two properties, and your plan to step back from construction while finishing them makes total sense.For Home 1, with no mortgage and a prime design upgrade underway, you’ve got flexibility that most investors would envy.

Our pro forma for the self storage property we built was rock solid until we opened the business and a year later I was facing losing everything because of all sorts of factors beyond my control.

It’s a good idea to work with a qualified intermediary and a tax advisor to ensure everything is structured properly and you’re clear on any tax implications.

There is statutory, and as you pointed out, now Fannie/Freddie guidelines, that exempt many transfers from being subject to the Due On Sale Clause...asset protection/estate planning purposes are covered.