Not sure how close you are to the partner but you may want to work with someone else for these kinds of rehab projects in the future. 

.- Have attorney draw up a contract to do this.Suggest you offer your dad some cash, now or in the near future, to motivate him to transfer his ownership to you.It may not work out, but you will learn a lot either way!

The HML covered 100% of the $32,500 rehab budget through drawbacks.Refinance: Post-rehab, I refinanced into a primary mortgage, creating 25.5% equity in the property.Future Financing: I plan to leverage the property with a HELOC to access up to $86,000 in capital for future deals.

I would consider doing a portfolio loan in the future but for now thats not necessary.

Large Metros get this.You should be looking in growth markets which have higher cap rates - but the future projection is they will decrease.Mid-west for instance. 

As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial intereststransferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to purchaser.If all or any part of the Property or any Interest in the Property is sold or transferred

-Creates a solid foundation for passive income, allowing you to reinvest future cash flow into other opportunities without as much financial risk.Cons:-Ties up a large amount of capital that could potentially be used to generate higher returns elsewhere (like another STR or other investments).

But most of these bridge loans have future funding components where the lender will fund renovation work as the work is completed and add that to the loan balance. 

I think the before vs after pictures really speak primarily to your experience and ability to execute a project so it can help lenders gain comfort with future projects and allow you demonstrate what level of detail you except out of your contractors.

Since we’re in the early stages, do you have any tips on building meaningful relationships with lenders or private investors for future projects?