I am familiar with his work, families know each other the whole nine.I financed it with hard money, front loaded the construction contract (So we could get ahead concerning draws) and spotted contractor 15k out of pocket to get through soft cost and get the project rolling.

I’m too soft!

In order for it to work, you'll need to get the deal well below market and be into it, including purchase price, rehab, and soft costs, for about 70-75% of ARV.

You are far too soft and are going to lose money as a investor.

There are hard costs and soft costs with a project.

The bulk of my time and energy drain on this one was finding hardwood to best match 60yr old soft fir 'hardwood' flooring, figuring out how to blend old asbestos tile siding patches with something modern and the main drain and in-wall dryer venting. 

A 16 unit multifamily can qualify for a 35 year fixed rate loan under the HUD 223(f) loan program, however the fixed soft costs involved with that program generally are not economical for a request of that size.

Even custom cabinet boxes are made cheaply anymore.You can easily add soft close door dampers for $2 each cabinet to upgrade (search Amazon for these). 

It is probably pine which is soft and will come out with real character. 

If you press in on it, is it really soft and moves a lot?