Did you close this with a hard money loan?

This is why I use a loan broker...I want his experience with who can do what they say and who is a delay. 

The investor either gets a loan or buys the property in cash.

Since agency loans don't allow you to put the loan in an LLC, ask your wife this. 

Total profit less closing costs and commissions will be about 42,500 each or 85k total.I would for sure get a construction loan, may be worth approaching 2 or 3 different banks and getting separate construction loans from different banks. 

Quote from @Beth Johnson: We pass all loan servicing charges through to the borrower including set-up fee, monthly fees, and any servicing charges such as payoff demand generation, and loan close out fees. 

Registration fees $800+ SOI $50 fees California and legal stuff-keeping it simple-easier to refinance a SFR if decide to just BRR and cash out refi in my personal name versus trying to get loan in LLC name. 

@Kwanza P.Leveraged means using a loan (leverage) to buy the asset. 

Any good resources for learning about hard money loans?

You can open a Self-Directed IRA and use the IRA funds to buy a house using a Non-recourse loan.