It sounds to me like you would be an Owner-Builder, which wouldn't require a GC license or any specific insurance other than the Course of Construction and General Liability policies an owner would generally carry.

, carrying costs ($100K?)

You would need some money for the points to the hard money lender, some money out of pocket for monthly carrying costs.

I have a owner who will carry a second but I need to find a bank who will work with a 2nd. 

I have a rental that is fully paid off, but my primary residence carries a mortgage. 

Hey buddy-o, you can either fix the electrical and have a handyperson throw some handrails up, or this property is going to someone using fix-n-flip financing, which carries double digit interest rates, meaning the offer must be lowball by necessity.

The owner financed with 10% down and carried the balance.

I have enough money for the down payment but I need help carrying the loan.

I have enough money for the down payment but I need help carrying the loan.

@Daniel M Gibson sticking to fundamentals and your "gut" is always the best course.Unlike 99% of the investors on this site, my take is that investing for cash flow is a bad idea...it creates a jaundiced view of how things work...meaning that investing is about controlling assets as wisely as possible...not immediate cash flow.I use seller carried loans routinely because I'm in for the long haul (and I don't need rental income to survive)...as long as the purchase price makes sense, I could care less about income...the concept is debt paydown and future equity.