My father is a certified contractor in NJ—he’s built one home, flipped four, and consistently handles upgrades and maintenance for me and his other clients.I’d appreciate any tips or stories from those who’ve turned equity into a profitable venture.

I have built enough capital to feel comfortable investing heavily and am interested in either a flip, small multi family, or commercial.

By making partial dispositions, you can also avoid subsequent recapture on these items when you go to sell.

I am wondering if prefab or stick built would be the way to go.

Part of this is sentimental value (wife's grand father built the house) but I don't want it to be a money loser. 

This approach not only helped resolve their issues smoothly but also built goodwill with local officials—making future projects easier to manage

Given the scope of your work, a simple plumbing leak would not concern me, it's a $200 issue at the most and ideally, it's just another line item when you do rough in plumbing for the kitchen.Being in a Milwaukee suburb, I am guessing it's a 1960s ranch, probably with galvanized plumbing.

-Why not include a contingency line item in your construction loan rather than raise the contingency funds from your equity partners?

You can see huge homes being built all over the place there now.

It may be helpful:I can give you some general info on insuring the property:Here are some things to look for from an Insurance prospective:1.Any in-ground tanks (active or inactive)2.Any Knob & Tube or Aluminum Wiring3.If built before 1978, does the building have Lead Safe certifications4.Any wood stoves or secondary heating units.