Typically starting with a smaller rehab budget of $50K or less (maybe a max of $75K) and avoiding a 1 to 1(or higher) ratio of purchase to rehab costs is recommend when you are first starting out. 

I would guess an older home might be more cost to insure?

CA maybe as high with their EIR requirements that cost 250k to 500k just for the EIR reports.

Tenant shall be charged $[amount] to cover the cost of this force-placed insurance.The other lesson is that you should never hand over keys until you have proof the Tenant has met all requirements.

For those who’ve used it, what strategies or sources have worked best for you when covering the difference between your loan and the total project cost?

It cost about $100K, but it would have cost around $200K if she were to do it from scratch.

You magically get the seller to cover every single closing cost (A $12k gift, or a trick to get you to buy their problem.).

Most sellers are going to want 20-25% down as it’s going to cost them 10% to sell.

@Dhruv Patel I believe you are getting ahead of yourself....Where in the US are you all-in (land acquisition, soft costs, hard construction) on new construction multi-family for $100/ft.

Procrastination will only cost them more. yep. carrying costs alone, but also if its not your money and investor money - some will try and drag it out.