At first, we were going to GC the project, bring in a KP to meet the net worth requirements of the loan and raise the equity, however, I am considering just working with an operator who has the net worth requires and can raise the equity themselves and just GC the construction and ask for a 5% GP. 

I'll make a long story as short as possible:> House built in 2008, first owners used husbands VA loan to secure (220k loan), stopped paying HOA and bank shortly thereafter (current payoff 500k+). 

I would if you have a lot of time on your hands now its a good idea to go back and get a w2 gig for active income to help you borrow money using conventional mortgages as opposed to using more expensive money like hard money or DSCR loans.

Lender (One Brokerage from here on BiggerPockets) says we can't buy it as a primary residence if it's leased.These leased properties would be perfect because July 2025 is when they would move in.We DO NOT have 15-20% down for a commercial loan. 

Our efficient project management ensured the renovations were completed quickly and within budget, while strategic marketing efforts highlighted the property's improved features, attracting buyers and maximizing the resale value.

Consider long-term goals, market trends, improvements, tax benefits, and flexibility.

Since we began lending in 2010, allour loans have been to local house flippers we met at the local real estate clubs and with whom we’ve formed some long relationships.Unless you live in an area with no local REI clubs, there is no reason to do business online or anonymously.

A bank does not offer a 30 year fixed conventional loan for a 12 unit commercial purchase.

I'm actually looking to get a loan against it as collateral but figured there may be investors interested in a specialized forum like that.

I have gotten pre-approved for an FHA loan up to $220k.