It can be in the real estate industry, property management, construction, lending etc.

Quote from @Dennis Bragg: Alan, I’ve got to say, taking on a major construction project like this in Ardmore is a bold move, and I admire the ambition.

I doubt that any serious lender is going to lend you construction funds in second position behind your mom's purchase-money lien on a distressed property.

Value add opportunities are over-shadowed by massive amounts of new construction. 

Hello Mike, It is nearly impossible to answer this question without taking a deep dive on the numbers of each but often times in expensive markets like Seattle the cost of construction is so high that it doesn't make sense to tear it down unless you can build something way bigger/nicer.

See if they will do construction loans.  

A borrower is more inclined to face adversity with a construction project than most other types of real estate investing.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

To answer your last question, my realtor has contractor contacts I should be able to leverage for rehab budget estimates, as well as family friends with experience in the construction trades.

The nicest, most expensive housing should almost always be new construction.