Assuming it works the same way in Illinois as it does here in California this would be a perfect project for a hard money construction loan.

Unfortunately, the project ended up being larger than anticipated after the sale of the home and resulted in around 60k per unit.

I operate in Colorado as a wholesaler currently, but am always projecting forward and looking for ways to 10xArizona is in my sights for next, along with Nevada and California.Would love to hear about how you run your business.P.s I'm a full time RVer and love the outdoors and can sometimes be a nice guy myself

Considering your posts below, your project will not cost 10k and 7k.

With a project we have considers using shipping containers as an alternative to brick-and-water (due to delivery cost we parked that idea for another day).

Consider this his prep work for the project so to speak. 

But mostly private and hard money lenders to help fund my future projects I find.

I would agree that if your only reasoning is to gain MLS access than its probably not worth it but as a current wholesaler I would think you could expand your business with your license and not necessarily have to get into representing buyers and seller aside from your investors, which includes the resell side commissions for your investors who could use you for the sales on the tail end of their flips projects along with purchasing the deals you find for them on the front end.

Its Fannie Mae.Debt is difference between projected Payment - and projected Rent.

You have to know, with pretty high certainty, the following:1.Reasonable ARV.2.Reasonable rehab costs3.Projected holding costsWithout that info, no formula matters.