@Aaron BooneMy ability to tag people seems selective so hopefully all of you get a chance to read this.  

I have not found in hard money lenders in my small town so this leads me to have to work with out  area lenders so I know my approach needs to be well above average to leverage my professional ability in showing I can get the job done. 

There are a lot of Experienced Rehabbers that will gladly pay good points and high interest rate for HML for a lender that knows how to get deals closed and can be honest on their ability to fund a deal.I've heard Horror Stories where HML in Chicago have come back to the Borrower and asked them to cross collateralize on a deal 2 days before closing...it was the HML being greedy...and nothing is wrong with it, but when you approve a deal, you shouldn't come back with crazy conditions 2 days before closing...Best advice to John is also to consider that is the type of market you are dealing with in regards to HML too...if you don't know what you're doing a HML can cause you to lose your deal by offering "bait and switch" terms...Good Luck!

ENSURE this is within a written contract with absolutely no strings attached with the ability to own all property in the property at the vacate date. 

Cash flow opens up so many opportunities as it gives you the ability to take a longer range view of your operations/direction.

Your finances, and ability to pay monthly dues, directly impact the HOA and the condo they are trying to maintain. 

New buyers might be looking for for owner financing because traditional lenders won't finance them right now, even though they have ability to pay.Offering owner financing would certainly allow you to charge a higher rate than the bank.

that's an interesting contract twist.. and it makes sense... gives you the ability to act like a cash purchaser and use HML to actually buy.so in essence you can leverage your cash up without having to really have the cash. past the initial amount of one property..

Agreed with Jon...I would never trust an architect (or anyone other than the actual contractors you'll use) with cost projections, for lots of reasons:-  He doesn't know the contractors you will use-  He doesn't know if you'll be be GCing it yourself or hiring a builder-  He doesn't know the finishes you'll be using-  He doesn't know your ability to negotiate prices-  He doesn't know your level of experience and ability to make cost-effective decisionFor our most recent project, I had architects projecting $125-150 per square foot for construction. 

@Edward Geyer where you start is up to you and up to your ability to learn, not to mention the amount of money you have to invest.I started with a 4 plex, and it isn't nearly as hard as a lot of people on here seem to think.