It was an expensive and extensive remodel project but it worked out great because of the AMAZING purchase price!

With custom homes, the customer typically finances the entire project from start to finish in my market. 1.

The holding period of 60 days is also likely too quick--it's counted from the time of purchase to the closing date when you sell it, so I would plan on at least 90 days since you need to completely finish the renovations, take photos, list and market the property, get under contract and then another 20+ days to close (if it doesn't fall through during inspections etc). 

Turnkey properties are typically fully renovated and rented out, allowing investors to generate passive income from day one.Regardless of how investors get started, patience, persistence, and a willingness to learn are key attributes for success in real estate investing.

I will be doing a lot of the work myself so any project management tools recommendations would be great too.

No turnover, no replacing the roof, the hot water heater, the broken AC, no vacancy, no tenant hassles, etc… pest control, electrical issues, plumbing issues, septic issues, no renovations from wear and tear (you get the picture).  

We used tax returns, work bonus payments, any extra money for down payments and for renovation. 

Because I have another investor on this project and I have to pay him out of the profit, and also is it possible to get a pre approval letter before selling my investment property because it throws off my debt to income ratio, but it's an investment property that is meant to be sold.

If this is for a fix and flip your project and your level of experience will determine what type of loan you qualify for. 

My projected ROI is 4.5%... so do I purchase it, or wait and save up that money for a bigger down payment on a multi-family property?