Doing deals gets into your blood!

You can BRRRR in NoVa, just the margins are going to be thinner than in DC. 

You can get a gift for a down payment but it must be from a  blood relative or "like" relative  and the you must explain the close relationship and why the "like" relative would give you a gift. a GIFT for downpayment is money given willingly to a buyer without repayment. 

Way too extensive for my blood.

Comming and going you are screwed to continue trying to get Blood from a Stone with Flipping, after Taxes. 

However it could be worth 170k-180 if everything was fixed and I think I could get it going as a functional rental property for the purchase price plus another 20k and some blood sweat and tears and maybe could get it reappraised in a year and do a heloc, but I could end up being 160k in when you factor in lost rent and is 10-20k inequity worth the gamble? 

You can't get blood from a rock, but it sounds like he would be able to cover your extra expenses assuming you won your case against him. 

For three or more unrelated by blood or marriage, I require each individual to make 2x the monthly rent.

You can see in the violin plot that compared to 2019, the long tail of slow-selling properties gets visibly thinner in 2020 and 2021:The closing price vs. list price graph further highlights increasing frothiness in the market:Properties that sold for the highest percentage over list:Listed 7/17/2021 for $589,000, sold 9/8/2021 for $753,000 (27.8% over list)Listed 11/4/2021 for $399,900, sold 12/14/2021 for $504,200 (26.1% over list)Listed 7/16/2021 for $524,900, sold 8/19/2021 for $650,000 (23.8% over list)Properties that sold for the highest percentage under list:Listed 7/18/2018 for $539,900, sold 2/1/2019 for $300,000 (44.4% under list)Listed 7/27/2020 for $1,950,000, sold 11/30/2020 for $1,250,000 (35.9% under list)Listed 6/20/2019 for $749,900, sold 12.30/2019 for $530,000 (29.3% under list)Wrap UpNothing unexpected fell out of the data; prices increased considerably and the Quincy market got hot during a time of historic asset appreciation nationwide.

Some investors balk at using hard money because of the higher interest rates, and indeed it can be risky if you have thinner margins or if the project takes longer than expected.