Being new to re investing, I'm sticking more to what I know and plan on a major remodel to an historic home to create an upscale sfh with an ADU bonus, essentially buying what I want to live in myself.

I also run production on the rehabs as their project manager analyzing the market for the ARV, calculating the budget, designing the remodel, hiring the trades, photographing, staging and listing it on the MLS to sell.  

If you have a $20k remodel or more you have to understand the contractor is worried about you not paying him, as much as you are worried about him taking off with your money.

That invovles most basic things like walls, flooring, exterior, bathrooms and kitchen remodels.

Is it like I get the money from bank for rehab and I am free to spend it on its remodel? 

I've used Randy with Structel Consultants on a couple of old victorian remodels in the past.  

 I am seeking a mentor with experience in raising private money for purchasing multi-family units, in exchange will help with remodeling, repairs and more...

I'm currently under contract on a duplex for $235,000 and the 2/1 will pull about $1,300 -$1,400 completely remodeled.

This includes a pretty high end remodel for all the empty units or units that emptied out during the process.

Just bought a multi-family property and have a tenant group paying $300-400 below market with a dead-basic 1 page written lease about to expire but claim to have a 12 month verbal lease extension with the previous owner at same price...Rents are low (about $1450, should be 1750-1850) and I want to raise them but they (and seller) claim they agreed to another 12 months, which is supposed to start in about a week.For emphasis, there is nothing in writing regarding an extension.Furthermore, none of them were screened by the seller (I think they'd agree to a background check).I want to do some repairs including painting and remodeling if they agree to an increase, but don't feel it's justified at the low price they are currently paying.Your thoughts are appreciated!