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.

BP Team, I've had an Alaska cabin project I have been working on for years that I finally decided to get er done.

There are 10 massive construction sites for incoming tech companies on my 7-minute drive to work.

I am a licesnsed affiliate broker here in town already, but I am looking to get my feet wet in purchasing my first flip or rental project.

@Sunitha Alli - I would strongly suggest you get qualified contractor bids on a project like this.

Ill try and post pics when project is finished and would like everyones input.