So I at least got that month taken care of.  

do you know how to read building plans or permits?

Good call, getting multiple bids is definitely the plan.

Hi Malcolm, With your strategy of holding multi-family properties or flipping, the key is running the numbers carefully to match your goals.

I am looking for recommendations for best financing options.The owner is considering financing it, but until they agree, I am planning as if they will not do so.The local credit union I use, who is very investor friendly, is unable to lend on properties larger than 4 units right now. 

So their plan is follow Hawaii’s “protect the homeowners plan:  how did that work out?

We do plan to flip, on-site.

I plan on starting out next year with a small plug and play solution to have minimum risk.

I did a cash out refi on my principal residence at a much lower rate and paid it off.Now I plan on using the equity for more purchases.What? 

Some will actually charge you to use your own unit, so be careful.