The other route you can look into is purchase+rehab loans if it's going to be a primary, if it's an investment then using hard money, bridge loan, or DSCR.

The money they did get is not enough for this and the remaining amount is what is being divided amongst the owners of the condos.It's not related to maintenance on just our condo.Would the loss assessment should still cover such situation?

Quote from @Angie Jay: I invested in a syndication and on the Schedule K-1 Box 10 " section 1231" I have a loss.

For my next deal I'm considering adding another duplex to the portfolio or investing in a syndication.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

@Benjamin LingoWe, my partner and I have been thinking about some big moves with investing. 

You spend a lot of time and money having people do this work, and at the end of the day you don't net any more income compared to a long term rental.

For the amount of capital you invested, you will achieve a great return.  

It’s awesome to have someone with your experience in renovations, staging, and investment properties in the mix!

@Richard Schubert If the house next door is a solid enough deal you could always raise the money from people in your network to tie it up.