There are certainly neighborhoods in Philadelphia where you can complete the BRRRR with your budget, but you are ignoring the fundamentals that make real estate a lucrative investment.

@Annwar Zahrieh There are certain transactional costs/ costs of doing business in Philadelphia to be mindful of, but I believe the fundamentals that exist in Philadelphia far outweigh this IF investing wisely.

I will be the first to share I understand the value in being able to recycle capital through refinances to grow a portfolio but this should not be done at the expense of other fundamentals that are more telling of the properties current and future economic performance.

When applying for a loan for new construction, banks typically look at your credit history, income, and assets to determine your eligibility.

I am eligible for a $156.00 a day stipend if I travel >50 miles away from my tax home.

You shouldn't be doing a wholesale transaction without knowing the fundamentals. 

@Ravi KaruturiRavi, a Project with a $10M “all in” cost will typically support a 70%-80% loan to cost (LTC).This means that you can borrow $7M-$8M which means that you will have to invest an equity infusion of $3M-$2M.More fundamentally, if you are asking a question like this, your priorities need adjusting.Raising capital from whomever, and especially from friends and family must come after you have acquired and can demonstrate the skills necessary to build a $10M ground up development.I believe that if you pursue a plan to raise the equity required that you will find it very difficult to secure bank debt without a track record and or the skills noted above.Feel free to reach out to me if you want to talk.

To assume a VA loan, you'll need to be eligible for VA benefits, though some lenders may allow non-veterans to assume the loan.

Condos are eligible properties for DSCR programs.   

Through diligent research, I successfully secured a favorable private loan and became eligible for a home loan.