How do you PAY back your contractor, did you take out a construction loan and repay them once the property sells or you refi?

Use Automated Follow-Ups to Build RelationshipsMost deals aren’t closed on the first contact, which is why follow-ups are essential.Example Workflow:Day 1: Send a thank-you email after a seller contacts you.Day 3: Share a case study of a seller you helped.Day 7: Send a friendly reminder with a call-to-action like “Let’s schedule a quick call to discuss your options.”Pro Tip: Mix email and SMS follow-ups to keep the conversation warm.Why It Works:Automation saves you time while nurturing leads until they’re ready to sell.3.

Speak with a lender now to understand your options and start building a plan.

Just one additional option.  

Another option is to co-sign but that has the same impact on my credit and responsibility to the bank.  

If it does vest, then the 2nd isn't currently $8k and the paperwork could further help your case.Other option is to completely ignore the equity in your residence and look for creative financing on the property you want to purchase. 

So it really just comes down to figuring out what solution works for a given market, but it's yet another great thing about real estate: having options!

any suggestions on how I should compare these 2 options?

I have considered turnkey properties as an option

Obviously, I want higher so value add or re-finance as things happen I can always own the option.