Never flipped before.If you take out a HD loan and say your construction estimate comes in at $100k.Eventually the actual estimated construction costs only cost you $90k.When you take a draw does the bank give you money based on receipts/invoices?

Some people (us included) keep our contractors close to the chest so it's easier to find banks and vendors (like carpet installation).

Twelve month interest only commercial loan at a local bank.

However, if you have a couple other investments I would form an LLC and use a DSCR loan product or something similar to close the loan in the LLC.

(Since they will actually be in a worse position then than not selling.) they should ask for 30% or more down, which will give them 20%. 10% of that might be required to sell again. 2) if you can earn 5% or more guaranteed in the bank, what would you require from a stranger where it will cost you 10% to take back the loan and resell to get your money back?

But for illustration purposes since this is a fresh transactional matter on my plate: The reimbursable lender legal fees for an $8.5M loan transaction I was recently apart of (as a buyer, not fees I charged) were less than $15,000.00.

You can take out a loan for the remainder. 

I would at least fix the double taps and get the ground working (or a GFI installed).As you note - I would certainly be curious about where the moisture stain came :-) from...

But @Katie Smith has a great point because after the Miami apartments fell in on themselves, lenders are much tougher on condos and a lot more makes them unwarrantable which will negate an FHA and require a DSCR loan.

Financed $120k (80% LTV) at 8.5%, 30 year with no secured loan (not a heloc).