Here is the scenario:The project has gone on twice as long as expected, therefore holding costs have been twice as much.The project is maxed out for 203k limit for a 3 unit - meaning nothing more could be borrowed on it at the time, regardless of DTITo close out the 203k, the property has to go through final inspection with the cityTo go through final inspection with the city, we need about $40k of additional work (including new 1.5" water service)The property is not performing, so the banks see my DTI at the moment as very, very high - too high to get traditional financing, almost any way you cut it (HELOC, etc.).

Remember you are a solution to their problem - problem being a house they need to sell, but can't sell through a traditional agent.

We would repay the loan as soon as the title becomes marketable.We can't get a traditional loan because there is no title to loan against and same goes for "Hard Money Loans".

I'm not intending to use my license in the conventional sense (becoming a traditional 'realtor').I am hoping to do the majority (if not all) of the coursework online.

The broker on this deal was extremely distant to say the least, I was always directed to the assistant who was handling the deal...who was "learning" how to do his job, to put it in a nice way.Come to find out apparently they had been scaring off like 95% of the people interested because they sincerely thought it could not get traditional financing.

Now, if A and B do not both 'check out' (my guess is that they won't) you may be stuck exploring a more traditional financing and find an outside resource to manage type of route. 

Tying it all togetherThis year I will be more focused than ever on both my traditional financial investments and the investments I have mentioned here.

I have been able to run all of my properties through traditional lenders, so unfortunately, no.

If you are using hard money you need to budget for the points and fees as well as traditional third party closing fees.Repairs: The money it is going to take you to rehab the property plus an extra 10% of estimated repair costs to account for unexpected repairs.Holdings Costs: Here is where a lot of investors get tripped up.

Would you traditionally rent this or vacation rental it, or a combination?