If the numbers look good, then I investigate further to nail down costs. 

Polished nicely there even is no need for a finished floor- the sub floor is the finished product!  

@JPaul Mills may have hit the nail on the head!  

Have you nailed down a plan?

It's still in the works and we're making changes before nailing it all down.I see in my original post where it may have looked like HE is the hard money lender.

We didn't want to sell in down market and have since moved back into our house in 2014.... which was an odd experience as it took 5 minutes to hang all the pictures back up knowing where they all belong and had nail holes already in place.  

  @Thomas S hit the nail on the head, if cash flow is your goal you're much better off going the route of multi-family properties.

@Russell Brazil nailed it as always.

Understanding those principles will keep you much safer than striking out on your own taking off from some cow pasture, stepping in it and getting nailed by regulators. 

To save $10k fast,  lets sell your car, no car payments, no eating out, no clubs, malls, games, clothes, hair/nails, coffee out or vacation for a time.