Has anyone here had experience with this type of project?

It will familiarize you with the basic terminology and benefits.

Few small projects with the 3 but nothing crazy.

This is a hard money product,you typically just need a 10-20% down payment, funding will be 80-90% of Purchase Price + 100% of rehab cost.AS LONG AS THE TOTAL LOAN AMOUNT IS LESS THAN 70% OF THE ARVOnce the project is complete you can then refinance into a DSCR loan.

You can also hold money for maintenance, capex, taxes, insurance, or other projected expenses.

One of the REPS cases (I forget which off hand) they were basically like...petitioner states they spent 8 hours on X date supervising painters at the property and we find it highly unlikely that anyone would sit and watch paint dry for 8 hours. 

I would not expect to replace your W2 income in the first year and would project it to take 2-5 years before you were able to replace it, unless you are sitting on around 3-5M right now.

This is a fairly basic question that any seller should be willing to answer even before you sign a sales contract.

This could be a 0% owner by the letter of the law...What are the Reporting Basics?

Best of luck with your project!