Also, they don't give you the rehab funds upfront, you have to show progress first before they give you the draw so you need funding for the initial costs of the rehab. 

There are thousands of regulations, building codes and most-likely you need someone experienced with these requirements who can draw blueprints that need to be approved by your city's building department.For example.

Zoning is all sorted, just need permits and drawings. - Carriage House needs a lot of work to convert buuut has a modern foundation meant for a two story house and roughed in plumbing.- Renos will take 3-4 months unless permits hold us up.- Property is in Kitchener, Ontario, Canada

Seems like Spokane has been drawing a lot of interest from investors lately, which is good!

I have included all these items into the timelines below MINUS any common delays like the town taking longer to approve a permit, or subs being booked on other jobs, or weather delaying exterior work, or draws coming in slow form lenders. 

I hope this was helpful, if you want to DM I can give you some insight into how I set up my operating accounts and how/when I take draws, I will tell you that I am conservative on pulling money out because I want my investments to be as easy as possible. 

If you take a cash draw and set it in another bank account to season, this cash for down payments may be looked at differently. 

I'd for sure have an attorney draw up the agreement to meet Washington laws or that will cause problems later on. 

I agree that, IF you can get a HELOC at this point, it's best to draw it out and put the money where it will be liquid in the next buying cycle.

Hi All,Looking for a reasonably priced architect with experience in drawing plans for a brand new 4-unit we plan to build right away in Hollywood, Ca.