You used a HELOC already but no clue how much is drawn.My initial thought is you should at least pay off the HELOC before starting.

Essential concepts for Seller financing comprise of an initial payment, interest percentage, loan duration, monthly installments, security, and early repayment charges.

This way, you hold onto the "float" or the money left over on the card after they spend the initial amount.- Example: I (the tenant) put $10 on a card.

It has made me a total of $400k including my initial investment.

This makes the initial loan amount look more attractive.

My initial reaction is that if you total costs are $283k and the length of the project is ~9 months or so, you annualized return is about 14% - which I would classify is "good, but not great".

And I find initially, I am getting easier financing as an individual.  

Im curious to hear what others have experienced to be more successful in terms of initiating contact on distressed property owners.

I have seen the best initial returns for newer investors on more turnkey multis so they don't get stuck with maintenance and repairs right away.

Your contractor may not have a good history with BofA. he may not be disclosing that part to you, which would likely impact the long holdsThis was an initial thought - what am I missing?