Hi All,I took a HELOC for ~$60k on our primary residence to fund a renovation on a rental property.

The problem is that the project is over budget: I'm going to end up needing $300k rehab funds, and I don't have the additional $100k to float until refinance. 

I'm wondering if it's common for PMs to provide detailed receipts for each project, and if it's reasonable to request them.

Hello BP Team, I am a local Realtor and investor with a successful track record in real estate projects.

Scenario 1: Condo conversionI'll skip all the renovation details and get right to the point - reasonable net profit from this project would get me around $863,000 which, after LTCG tax would be around $733,550. 

Now if the four family was a big renovation that you bought for say, $1mm but with renovation to all the units, could be worth $1.5mm (assuming you only spent about $200k on renovation), then I would say that would be worth it.  

On surface, it seems like turning ~600K on a two year project with an investment of roughly 600K (or even 700 or 800K) would be very lucrative.

If I am skimming commercial listings I am typically looking for property/projects that are listed 1.5 - 2 points above whatever the rate will be on my lending terms.

Can that money be used for renovations on a property within the LLC?

A few things I would do before lending to anyone on any project: 1.