You tied up 70k and a minimum of 6 months just to go through this process. 

What are some standard process or contracts needed before the partnership to make sure both parties are protected?

The borrower's experience is important, but what's more important is the "Hard Asset," Hard money lenders rely on their due diligence process to determine the potential future value, review the renovation plans to get to that value & sometimes even the contractor.  

Should I be prioritizing finding a local expert, or are there tools and strategies I can use to handle this process myself?

The process of flipping and rehabbing isn’t just about the renovation itself—it’s about having a clear, long-term vision for the property and executing it step by step to bring that vision to life.

There’s no harm in making some quick profit and reinvesting.If you're thinking long-term and are okay with the more complex refinance and buy-out process, BRRRR can build your portfolio, but just be sure the cash flow and potential appreciation make it worth the hassle.

Nothing new on the conversion process since an update 3 weeks ago, which didn’t say much.

Quote from @Reginald Glascoe: I definitely don't want to start this process over again. 

I understand there is a lot more that goes into this process but I'm just curious if it makes sense from the most basic viewpoint for starters, thanks for your input! 

Not sure what the process would be.This is kind of what I'm looking at (with a 7% interest rate):Its not really negative cash flow, its saying $143/month.