I would have appreciated someone pointing out how to more accurately project cash flow. 

A buddy of mine who invests out in Phoenix once had a client facing a similar timing mismatch on a rehab project.. they ended up working closely with a local credit union who was more open to interim valuations.

I grew up in the real estate industry watching my father raise money with a PPM for large multifamily value add projects and a developments.

It's putting out lots of fires, managing finances like a hawk, keeping projects on time, in line and on budget, marketing the property & getting it through closing, and *then* doing it all over again - and that's if you're not doing any of the work yourself. 

I have spent the past 12 months as an independant contractor and wish to finance a project.

If all in around $435k, wouldn't she need to leave money into this deal with a projected ARV at $500k?

@Matthew DrouinThe one I'm looking at right now is a smaller 8-unit project - only around a $100-125k equity raise + loan guarantee.

The builder could easily take on the project itself.

Similar for bathrooms if virtually all are multi bathroom but you find a single bathroom, making it multi bathroom via new construction could be a value add.There are more sophisticated value adds such as add multiple adus via bonus density program.  

for fix and rental projects or for fix and flips?