She would serve as my agent in the acquisition, project manager for the rehab and then pass me off to marketing for getting a tenant in.

Someone who has handyman skills and who could do rehab/handyman work, a little project management and GC type work as well under my general supervision.

Single Family Home (East End Louisville)- Originally my primary residence ($209k)- Property is in our personal names (not in LLC)- Comps in the neighborhood are $285k- Built in 2002- In well established  neighborhood w/ middle income families- On 15 year 2.99% mortgage w/ 8 years remaining and $115k principal balance- Currently rents for $2,185 month/$26,200 annually- NOI $16,320- Cashflow $4,500/annually - $12k principal pay-down annual (current year)- Currently getting less than 3% return on our equityOriginal goal was to not cash flow but pay off property, allow appreciation, sell property at end of loan and use capital for additional projects. 

If you do not refinance, do you take on massive amount of debt and just collect the small difference between your investment property expenses and income until you fully pay off the loan?

I was planning to budget the renovation at 35k capping the whole project at 100k.

Where if the project goes longer than anticipated you will be paying a high interest rate for a longer period of time due to using a hard money lender.Hard money lenders look at your track record and want to understand your experience level.

I am working on a commercial project in Kansas City and am in need for some architect referrals.

And then do the bigger project next spring/summer.

This is just the latest in an arduous process, to find the deal under market value on the land, rezone it to multifamily district (long and costly process), permit a six suite rental (difficult with many technical fire code and structural engineering challenges), build the units (using all my experience in home building and every possible favour and technique learned over the years to project manage), get financing to finish construction (from a private lender after the bank lenders totally dried up on this type of financing), and pre lease the units while under construction to quality tenants.  

Short Term Project Long Term Project Lower Points Higher Points Higher Note Rate Lower Note Rate Here is an example for a standard fix and flip loan with a 12-month term.