Some of these investors might let you walk some of their projects.

It is in a northern MI Downtown area (opp zone) in a county seat with 2 hospitals, had it re-zoned to mixed use, and is considered blighted which makes it eligible for MEDC funding of up to 50% of project cost.It is 8k sqft (4,000 each level) with the lower level being a walkout (top level is street level with sloped drive down to the rear of the building).

After some minor maintenance projects and improvements, have had very few issues and cashflow has been slightly better than expected.

I'd start by seeing what pieces you already have lined up for building the project. 1.

I suspect it was a part of their process to change the electric utility as close to the projected move out date, but the tenant never moved out.

At this time in the project, is it possible to take out a loan against the property in order to buy a great investment which would be a patch-n-paint and could become an awesome rental?

I got good at estimating renovation costs by making an initial estimate based on photos/walkthrough, drawing up a model like you see here, then once the project is finished, go to accounting, get the actual expense report for that property, and update the model.

Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

If you wait three months, you can use the new appraised value for the cash out refinance which is helpful because if you're doing a BRRRR, you're presumably adding value and will get more cash back for your next project if you wait the three months seasoning period.

we did that except instead of renovating it we knocked the existing home down and built a new primary. right after we were completed we had $500k in equity as we acted as the GC on the project.