@Brian Garrett it does sound like a good alternative to an HML the only thing I would be curious about is if you have $100k cash  I would assume the project would need to be 100% financed because if you spent any of your own money your limit would go down $5 for every $1 you spend. 

Not to mention, this project could take 6 months of time.  

He works a full time job so I would be in control of 100% of the project.

Stretch my Construction partner so much that he has no time for other projects?

This is also why sophisticated investors only look at IRR because one has to look at an investment over the entire holding period by accounting for the magnitude and timing of cash flow. 

Obviously, every investor would be upset and pissed off but would it eat at you even more being that you used to live there and maybe even did a project or two in the house yourself? 

-have done at least 7-10 deals-currently working on at least 2 projects -possibly interested in utilizing my college counseling expertise for your high school age daughter or son in exchange for your REI expertise-someone who is genuinely interested in helping a newbie learn the ropes-a good personLooking forward to hearing from you! 

I'd like to use this area because it is centralized, deck is gonna need replaced soonish, and 2 walls for the project are already in place. 

Where do investors go for money to acquire and purchase the property, and also for the rehab project?

I would also contact every local community bank within 50 miles of your location and meet in person with them on your project.