She might not qualify for another loan, unknown it depends on if she can show it as positive rental income but with your plan it sounds like she won't have tax returns in the future to make this work. 

I am also extremely interested in Portfolio loans, but I have zero contacts dealing with those types of loans.Finally, I have an 'excellent' credit score, no debt at all besides 5 other rentals at 75/25 LTV (all cash flow positive) and a job that I claim over 100,000 in taxes, and have three years of consistent tax returns showing that.

If the Florida property could cash flow or at least pay the mortgage taxes and insurance, utilities ect then they would just have a payment for their house by me.  

I also got the taxes reassessed and cut by more than $7k per year, due to the tax assessment being overvalued compared to my purchase price.I just went through the process of getting a 25-year commercial loan put on the property with my usual lender.

(plus higher property taxes due to the new assessed amount)2- I don't have cash for the rehab yet, so any advice on going about sourcing the 100k?

I have done short sales, tax lien purchases, sheriff auctions, wholesaling, / buying from as well as providing, PM about 500 doors growing to 1k in the next 17 months.

We know this from historical tax court cases. 

Property taxes almost $2,800/yearly.

Keep in mind by building and then selling the home you are going to be taxed at STCG (effectively ordinary income) whereas the land, could be taxed at LTCG.

**Seller Finance**: Become a lender instead of a landlord by offering seller financing to buyers, which can provide consistent payments and tax benefits ([Why Would a Seller Sell on Seller Finance | Seller Q&A](;t=363s)).7.