Being all in for 65K would still be on okay deal for my first - projecting $200 cash flow and a 9% ROI and leaving 20-25K in the deal after refinance.

It looks like it's an abandoned flip or "unfinished project" distress as David Greene likes to call it.The property is in very rough shape. 

I have done many rehab projects over the years but it has been several years since I have done a full house rehab (4 or 5?)

Converting old homes is not easy when dealing with commercial code, and I'm assuming the micro units project would fall into commercial code (3+ units).

Some contractors will allow you to finance your renovation projects through them.3.

If you want, I can send you some comps for add value projects. 

I have over five years of heavy civil engineering project management experience.

I will be excited to here about your next project.

There seems to be a difference between the level of professionalism (communication, promptness, clarity, responsiveness, etc.) between the sponsor of a syndication project versus a Turnkey provider or their PMs.I suspect there are many easy to see (and some hard to see) reasons for this, but I want to open the discussion.

ROI on this project will take the cash flows you earn and add the equity increase in your property.