Now I used to work as the Lender on some of the most highly structured, large balance CRE loans in the nation - and I remember one loan document that required the repair process to have begun within 10 days of the loss and repairs had to be fully completed one year prior to the maturity date.

I am also under contract on a quad scheduled to be completed this December in Clarksville Tennessee.

Currently run as two units with the owner running his nonprofit in one unit and his convenience/grocery store in the next unit.He wants out of the property fast due to repeated armed robberies over the 20 years of ownership as well as overnight break ins requiring complete remodel of the front face of the building.

When I am analyzing properties I want to be able to Force Appreciation enough to be able to complete the BRRRR process.  

I am completely new to the real estate investing world, and looking forward to learning more about it.  

For your situation, hard money is fine, but I would make sure you have a contingency to complete, and own the property yourself if transitioning to him doesn't pan out.

One of my friends in the area completed a similar project for their own home, in the same area, for about $150/sq ft after the tear down.

Rough plumbing work in showers is complete (remember this for later!

When the dust settles each LLC will own x% of the new property as a completion of it's respective exchange.  

Just completely turned me off.