Also in the future you can only use this property as collateral with other SBA loans and properties.    

Each time on the first two I have bought in my name, renovated one side while living in the other, swapped sides renovating while living in the other, then rented out both sides when moving on to the next project.

I plan on keeping this house as a buy and hold as well as buying several more properties in the future. 

And I’m curious why you would permit this project if it weren’t required?

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I come across both fix & flip projects, as well as stabilized cash flowing rental units, primarily small multi-family with some SFHs as well.

He already has the $50k with the hard money lender however they will only release funds once first phase of the project is completed. 

My goal is to have more financial freedom for myself and to provide a better future for my son.

You can look those up with the local planning department if there are major redevelopment projects from roads and sidewalks to building renovations.  

I moved here from Florida after seeing the projected growth.