If you were to conduct a market analysis of similar properties purcahsed with the intent to flip, I bet most were acquired with construction financing.  

I was wondering if you ever finished the elevator project and how you made out on final cost. 

Based on averages of cost per projected item, it would total the $ amount as you incremented your boxes. 

This can provide liquidity for your next investment or accommodate potential relocations.No Residency Requirement: Unlike house hacking, fix and flips don't require you to live in the property, allowing you more flexibility.However, keep in mind the challenges and risks associated with fix and flips:Market Analysis: Successful fix and flips require a good understanding of the local market.

When will your other project be completed?

The only place cap rate even enters the picture is sale projections.  

High turnovers with a lot of repairs will eat up any cash flow you projected on paper. 

I do suggest if you are looking at a vacation rental as an investment make sure you do an analysis on the area during the down season.

Hi Karter,Experience definitely helps and is sometimes necessarily for heavy rehab projects, but there are still options for you as long as you have enough reserves and credit qualifies.

Freddie Mac: "The appraiser may also need to consider whether the income approach, cost analysis, market surveys or other methods are appropriate for supporting adjustments.