ABL, which is the basis for HML/fix and flip lending, will have different criteria and different focuses than multi-year loans based on cashflow and borrower credit score (long term mortgages).

I don't see that happening any time soon based on your 2022 to now trajectory, but you do want to find a way to make it profitable.

I am currently based in Canada and am looking to embark on my real estate investment journey in the United States, specifically focusing on multifamily properties. 

Also if this property is on septic that also can throw a wrench into the ability to call a space "a bedroom" as septic systems are sized and permitted based on the bedrooms.

There are some DSR Rehab lenders that may lend based on ARV.Otherwise, you'll need to raise funds from family & friends.

.✅ Do your research to learn what is realistic.Spend time really considering what type of business is going to be the best fit for you based on your experience and how you want to spend your time once you are the owner.

You can DM me her contact info.Kevin, I noticed you are based in New York.

$25k is only 4.16% of your new purchase price, heck of a deal.Thank you for your service and let me know if you want to talk any more details and run actual numbers based on your situation.

Based on that, do you anticipate increasing or decreasing your investments?

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.