You have almost 50% equity, so enjoy your low interest rate and at some point you'll be able to easily refinance or get a heloc or home equity loan. 

Why would you consider this a better route for a value add project when you can put 10% down just of the purchase price get rehab funds?

I’m in CT and they have funding to replace the foundations in the way you described.

This allows you to borrow against the equity in your current home and use those funds for the down payment on your new rental property.

There is such a low success rate of getting off that stuff, it just don't happen. 

Selling because I'm a little burnt out as a landlord and I see that my return on equity is pretty low.

Travis,Fannie Mae and Freddie Mac both have renovation loans that allow you to do this with as low as 15% down on the renovation + purchase price as long as the home appraises at that value or higher.

Well-known connection from college runs the fund operating the syndication.

Our low cost living, weather and current interest rates make for a very interesting investment in the area or in Florida in general. 

Finding startup funding / not enough Net Worth Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?