Its a tough one to really help someone with. 

Everything always takes longer and is more costly than projected.

I'm starting my first BRRRR project and just closed on a property using cash.

My plan would then be to diversify by partnering with my mother-in-law on fix-and-flip projects for a year or two, which would increase liquidity.

Do you have experience using them for your projects?

@Blake Kirby the new construction is mostly SFHs on the far outskirts, or "luxury" apartments and/or condos as infill projects.

By the time an Inspector shuts down a project, and the homeowner goes to court/city/judge/whatever.....there is wasted time and money.As we all agree, just get a permit (if it is required) and do things right. :-) Even if you win the war, loosing the battle can easily wipe out all your profits and more.Think about that recent CA AirBnB case where the lady was in the guest house for almost 2 years with no rent?  

It is in a northern MI Downtown area (opp zone) in a county seat with 2 hospitals, had it re-zoned to mixed use, and is considered blighted which makes it eligible for MEDC funding of up to 50% of project cost.It is 8k sqft (4,000 each level) with the lower level being a walkout (top level is street level with sloped drive down to the rear of the building).

Feel free to DM/call me so i can help you with your first F&F project.

Quote from @Deborah Wodell: Hey everyone,When it comes to fix-and-flip projects, the down payment and closing costs can add up quickly.