Something light and neutral. 

In light of that did the developers wind up getting a pretty decent deal out of this after they took a big risk on a property with crazy restrictive zoning and no clear path forward prior to purchase?

I, like Jarrett, work a non traditional schedule.

I’d love to take advantage of a “traditional” mortgage (or even FHA?)

.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

On paper, it looked brilliant..cheap money, quick turnaround, and a profit projection that made his eyes light up.It taught me that the real risk isn’t just the cost of capital, it’s the predictabilty of your exit strategy.

., lighting, HVAC, or carpeting), they can claim a deduction for the remaining undepreciated value of those items.

As of lately, the traditional BRRRR is not working with the higher rates and low inventory as, others have mentioned. 

I'm light on capital so paying a mentor isn't an option, but happy to split revenue (pay as I learn). 

I'm fine with doing some minor fixes and improvements to a property: Adding overhead lighting/fans, better flooring, maybe redoing a main bathroom.