Because I have another investor on this project and I have to pay him out of the profit, and also is it possible to get a pre approval letter before selling my investment property because it throws off my debt to income ratio, but it's an investment property that is meant to be sold.

Would you be interested in getting a revenue projection quote to use it as an STR/MTR?

How much will the rehab cost, and what will the appraised value be after completing the project?

Now the contractor is telling me that the actual cost for project is $117K.

I joined in March, but have been involved enough to see the massive potential it provides to investors looking for a supportive community. 

My guess is that you'll end up doing a hybrid approach and keeping the parts of these projects that bring you energy while finding other "whos" for the parts of the projects that don't.

You may use projected rental income to help you qualify, however you may not only use the projected rents to qualify.  

I am a do'er and don't mind getting my hands into DIY projects on a property that needs work, so I am really hoping to invest in the next year.

It is always recommended to do a cost benefit analysis before doing a project to determine the feasibility.Whether using private money or not the cost benefit has to be addressed.It will affect investment and equity when measuring profit.

I'd go basic outside of LED lighting, new cabinets, 1-and-done projects, and repairs if you're aiming to BRRRR.