I wasn't sure how the whole refinance process worked so it's good to hear I should expect a 70% cash out of projected ARV.As far as weather, we've seen better days.

At Skandia Construction LLC, we will create a project plan at our first meeting that details every cost aspect of the project.

We currently own a couple rental properties along with working on a couple fix & flip projects here in California and Idaho.

Meaning harder to sell the projects?

Advantage: no payments made during loan term means you have more cash flow to put into your project.

Here are the stats: Construction costs - $50,000 Purchase Price - $225,000 Current Appraisal Value - $375,000 Post Construction AV - $440,000Current Loan Amount - 195,000 Rental Income - $2,800 Mortgage + Taxes + Insurance - $1650 Liquid Cash - $10,000My partners and I want to get the remaining projects off our plate and are trying to figure out the best way to make it happen.

Here are the stats: Construction costs - $50,000 Purchase Price - $225,000 Current Appraisal Value - $375,000 Post Construction AV - $440,000Current Loan Amount - 195,000 Rental Income - $2,800 Mortgage + Taxes + Insurance - $1650 Liquid Cash - $10,000 My partners and I want to get the remaining projects off our plate and are trying to figure out the best way to make it happen.

If the property is close to you and you're experienced with construction/contractors, then you could manage the project.

$289,000 seems high, but even $189,000 (projected financed break even point) seems like a slap in the face to the seller. 

The chances are very low without the bond, also most contractor's bonds cover negligence and fraud, the "performance" part usually falls under negligence aka leaving a project unfinished, charging too much, etc.