Most Private loans will involve a balloon in 5 to 10 years, at which time you’ll need to refinance at the current market rate, and may have difficulty finding a new lender depending on how the landscape has shifted.  

As the market started to change and as we started to feel like we had "mastered" flips in our local market, we decided to expand.The biggest component to our expansion was partnering with other investors who had skills we didn't have.

., flooring, painting, windows and doors, rough carpentry, finish carpentry, HVAC, roof, plumbing fixtures, electrical fixtures, rough electrical and plumbing, and landscape.

Great plan, concur with all the above - quite possible in theory, but may vary hugely according to markets and unexpected trends/events.I'd run the financial expansion plans carefully - there are a lot of assumptions thrown in there that would require re-confirming or re-adjusting after the first few properties are purchased - make sure you have a safety buffer, as things tend to slide down-hill fast when you're leveraged and cannot afford repayments.Best of luck!

Will also plug for parking expansion, possible water/sewar work, code upgrades....

Does that give me enough room to make a profit assuming I do a lot of the minor work - new showers, paint, siding repair, fixtures, landscaping myself and hire out for AC/roof/carpet from discount outlets?

Search and landscape mode.

We just replaced all flooring and did landscaping.

Bingo.I've done M&A, have been an angel investor and have been involved with venture capital, and while the support for the numbers is important in a business plan, if you were to throw out 90% of the plan other than the projected P&L and cash flow statements, it would probably be enough.The numbers are key...but as Dion pointed out, the numbers are meaningless if you don't understand your business model and the landscape of the market.Anyone who has ever been involved in a venture capital pitch knows which pages are the business plan are really important

Drop some nice landscaping in there and you might be able to get a few extra bucks in income and resale though.