Just wanted to get some second opinions.Mike my 80% desire was 80% of BPO/ARV the BPO came back at $50k so 40k still met it.  

So you're saying that if I buy in cash, pay for the reno myself, I will still have the option to pull my funds back out after the place is rehabbed and rented?

If funds are tight for you, go door knocking as your way to generate leads.  

First the bad, most banks will not fund the loan nor will most home owner insurance companies approve a policy until restoration and remediation is complete.

I don't have the time or desire to be constantly looking for, rehabbing and flipping properties.

Has anyone dealt with Close now Funding based out of New Jersey ?

Due to our limited funds, we want to figure out how to get a great deal, with as little of our cash in the game as possible, to allow a "safety net" of sorts.

It'd be pretty simple to convert back to 2 units in the future, if desired.

I like this one.3) Highest risk because too much carrying costs with hard money, inability to predict where market will be when it's time to sell (9 months + modular construction time), opportunity cost if your funds are tied up and another deal comes along so I'm not a fan, negative cashflow like crazy over a long period of time is no bueno.Like the numbers on your deal, too bad 9 months + build time is really far out.

Fund that Flip gives their complete history.