Might be tough from area to area, but I typically find that homes built before 1950 that were converted from single to multi family are 9 times out of ten - a full gut rehab and way too expensive for first timers.

Congrats - great writeup and a looks like a great investment project~!

I bought my first investment about 6 weeks after starting and did 10 projects in first year. 

He’s clearly trying to play a tough guy, but it’s irritating that he decided to play it this way.

I’ve been in the real estate business for almost three years now and have completed five deals: one buy-and-hold long-term rental, one short-term rental, and three fix-and-flip projects, for which I helped raise capital.

but it sounds like your mind is made up on this mentor.. flipping right now is a pretty tough gig for a beginner depending on market. very low inventory then sky high rates for your buyers. so use caution be careful also make sure you have a GREAT RE Broker who knows the values and what you should and shouldn't do in the rehab to maximize your returns. these things are very market specific U simply need to make sure your matching what is expected in the market you choose.. 

This is the projected payout on a 100k investment.Thank you

@Meagan Yednock  How's it going on your project?  

Finding hard money could be tough unless the ARV is crazy high as you'll be asking them to put $200k in 2nd position or to buy out the first and add $200k to the balance. 

Occupants would end up with cords stretched across walkways.I've seen a couple of demonstration projects for 3D printed houses.