@Darrcelle McGinnis wow, I should play the lottery today:)Couple of thoughts:1) Don't burn a bridge with the contractor friend.

The fix and flip loan will either more expensive, a higher rate, or generally a bridge loan without rehab (it may also require more down) in most cases. 

You need to try and create a bridge of trust.

Hey Gang,So I've been a mortgage broker for several years in the CRE Lending space, and I have capital partners I work with who offer 100% CLTV funding for bridge loans or short term, I/O financing.

It's better to know than to be blind-sided and hopefully its something I don't end up having to deal with, but I'll cross that bridge when I get there.

Bridge and private money, depending on strategy needed.  

Purchase price: $100,000 Cash invested: $130,000 Small cabin on 5 acres of land with the barn and still covered bridge we remodeled the property added septic tanks gravel landscaping redid the entire cabin and now we are cash flowing very strong and heavy on this property What made you interested in investing in this type of deal?

It doesn't sound like a bridge loan. 

Barrett actually brokers a lot of bridge, fix and flip, ground up construction and DSCR .

Even on most DSCR loans, you'll be looking at 20% down, so your best bet for low(er) down payment would be to utilize a BRRRR strategy with a rehab-focused bridge loan into a DSCR to get it stabilized and cash flowing.Be sure when you talk with potential lenders to make sure that they are licensed to operate in NY as well.