For interest sake and possible future reference also have a look at Sustainability Products ( they are located in Kraaifontein, Capetown...not to far from you). 

This may be a long post, but I thought it would be good to walk through everything step-by-step, and explain my thinking along the way.If you want to stick with me through it all, here we go:I was not going to be getting a conventional mortgage for my first property for a number of reasons.First, I am still annoyed at the hoops I had to jump through to get a mortgage for my primary residence.Second, my liquid cash was on the lower end.Third, the properties that I would need to start out with would not be financeable anyway.Fourth, my DTI is on the high side, due to the decision that we made to take out a HELOC to complete interior improvements on my primary house.So, I decided that my path was going to be to form a single member LLC, and take a loan from my 401(k) at work to finance the down payment.Since I do not view the 401(k) loan as a long-term solution, I am treating like hard money, and pay it off ASAP.So, my first deal would be a flip, or a rental that was such a good deal, that I could re-fi out and pull all my cash out.I decided to reach out to the commercial lending department of the local credit union, which I am a member.The person I talked to (who became my lender) is fantastic.I told him what types of properties I was looking for, and that I’d look to turn them into rentals, or to flip them.I will never forget his response, which reminded me why I love this credit union.He said:“Typically, the deals you are talking about are much smaller than the deals we like to do.However, we also realize that you can not get to that level unless someone helps you get there.So, if the numbers make sense, we will see if any of our products fit.”Awesome!

@Christie Duffy  Very much depends on the end product quality level.... as @Jim Adrian mentioned, $125 per SF has been a base number we've used for new construction though my experience is in the burbs, not urban Hoboken.

As you accumulate your SF properties that you have purchased to hold for productive use you can 1031 them as a consolidation into a larger MF property regardless of what your debt level is.  

Property you purchase with the intent of holding for productive use in business trade or investment and not primarily for resale does qualify for 1031 treatment.There is no statutory holding period but in general the longer the better.  

My partner and I are about to sign a deal with a production company for a new show about flipping beach houses.

Keep in mind, mortgage products will differ depending on whether you will occupy the property as your residence or strictly hold it as an investment property.

To address the type of flooring material, first off, if you want a "luxury impression," stay away from the laminate fake wood.I would consult a local expert, but that said, I understand engineered products--with a substantial veneer thickness that's able to be sanded and refinished--are both functional and comparatively inexpensive to install over a grade-level slab.In terms of color, this is always subjective (and depends on what's going on with the kitchen finishes), but I would recommend a mid-tone finish for a flip.

Besides, if you want to do flips, you should really start spending a lot of time familiarizing yourself with the products available to you and figuring out what you can afford to do - that way you'll know what kind of flip to aim for.  

I take this "sub-prime" buildings and renew all of the maintenance to bring them up to a very nice product (with washers and dryers for each apartment).