The last building, it was listed for $1.8M, needs $300-400k in deferred maintenance and soft story retrofit, went for $2.1M and I was surprised it didn't go higher.

I have been investing in B-more for over 40 years - my suggestion is to study the market, learn creative financing, make offers and look at 20-30 properties every month until you feel you understand -values - in Baltimore the values change from one block to another - understand that.comps, be sure you have access to comps and understand the real comparison financing - hard money - soft money - seller financing - delayed settlement - joint venturing -etc.contracts - what will you use a MAR 35 page contract or a skinny one page with one contingencyunderstand the auction business - learn how to use auctions to sell your dealsattend auctions - meet REAL INVESTORSmeet real investors (many of the attendees at REIA's are not pros and looking for help from each otherlearn to recognize BS from real good information - talk is cheap - KNOW-NOTHINGS like to talk - talk is is free, it makes them feel important!

Food everywhere on the countertop and sugar crystals from soft drinks everywhere. 

been on the market too long""But I am excited about this next house""Yeah, man, I still can't believe Tony Romo finished so soft again""Look at that squirrel"I could go on but I won't...

I am building a 700 sq feet detached 2B 2B, I have budgeted for $200K for construction & soft costs.

There was an old post on BP,  but I believe is inaccurate as it describes soft cost development on land,  but my understanding is that you would actually own a share of the land,  and partner with the biggest and best developers in the country to build mid to high rise buildings.  

Does this happen, and is the answer hard/soft money or creative financing? 

If I am buying a new property or multiple properties out of a 1031 exchange, can I use a hard or soft money lender, so that I can also get money for rehab?

I’m still highly skeptical of the soft landing.  

Since it looks like a slightly older property, I'd include a contingency factor for any hidden issues that you can't see until the rehab starts.Don't forget to include your holding and other soft costs - HML payment on this project would probably be over $2k/mo for example - how long would the rehab take?