I have 2 rehab projects in Boulder county.

This is definitely below market rate (could probably rent for around $2000/month), but these are unicorn tenants and they are managing the property very well (small landscaping projects, small home improvements).The current value of the house per Zillow is $383,000.I am originally from the Bay Area so we plan to settle in Northern California once my husband is out of the Air Force in a couple of years.

Not sure if you can find an angel investor or seed capital investment group that can help you there, I suppose it depends on the type of project you will be undertaking in Nevada. 

Good cash flow, low price points, steady growth projections, and these two markets are in very different geographic regions.

Putting some things off until later in the project hoping that they will work out. 

I understand that most banks like to use this formula: (Value of home - amount owed) .8I have enough equity in the home to where 80% of the difference in value minus balance is sufficient to fund my construction project. 

There is no way living in Los Angeles with a wife and 2 young kids that I can reasonably afford a loan using a 50% DTI, unless I project my income to rise sharply going forward (which I will not bank on).  

I always try to borrow 100% of the capital for my projects however, that doesn't mean my mortgage is 100% of the ARV. 

Does this builder even have any relevant references for a project of this size?

Numbers like occupancy rates, loan defaults, etc. all remain quite favorable when compared to those of SFHs during a recession.On top of that, if you work with a good syndicator, they'll only bring you deals that will perform (albeit not to projections) in a down market.