Be very careful with this as a first time project! 

The great part about contacting the CDC directly (and a large one such as TMC) is they can make referrals to banks that would be interested in your project (i.e. banks that have been actively doing SBA hotel loans)...rather than you having to chase down the bank first, which can be very difficult.Regular commercial lending requirements are applicable (will vary by bank):1 - no bankruptcies2 - no foreclosures3 - FICO > 7004 - net worth >= loan amount5 - post closing liquidity >= 12 months of P&IIf this works out, you are going to be glad that you made this post.

My area is relatively low crime, but had one place that someone broke a window to get in.... probably a homeless guy looking for a place to sleep....got scared when neighbor turned light on.I put in a SimpliSafe unit... portable, easy to set up, multiple options- you can use a webcam and get alerts on your phone and future tenant can pay for full service if they want. 

With conventional financing becoming more restrictive, real estate investors may turn to hard money loans for acquisitions and rehab projects.

A development project can have a very nice upside if done right. 

@Guifre Morai am searching for a HELOC or refi so I have some capital to take advantage of any future deals, sounds like HELOCs have been frozen, anyone have any info.

You probably know the below info but you might not and it may give insight to others who come across this info in the future so ill post it.What are the lists you currently have?

I like the idea of using a HELOC for value add projects where you can refi in 12 months to pay back your HELOC.

At a minimum look for a deal that breaks even - although it's always better to cash flow and still have the shot at future appreciation.

The construction project in question would be in West Philly, if that's helpful.