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

Most importantly, China and India (and Asia in general) are in the process of taking over as the world's main economic powers and the reality is we can't compete against their cheap labour. 

Get it all in writing to keep things smooth.

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

I suspect the builder has crappy credit and can't get approved on their own.Also, as a former banker myself, local banks aren't generally interested in financing new construction on this size of project or a builder that doesn't have extensive experience in these type of builds, in my opinion.I realized as you were writing that I wasn't clear on the point.

Also remember just because a loan may qualify as being assumable the lender will go through a thorough underwriting process to confirm you meet eligibility for the loan.I have seen a guru teaching people with poor credit to go after these types of loans and it’s unfortunate as many would most likely not qualify.

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.

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.

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.

Your informative account has helped fill-in a few progress blocks in my own process.