But basically with a construction loan you will need to have considerable cash involved - most costs need to be paid for and then the bank will reimburse at certain checkpoints.You may want to start with some smaller value adds inside the existing house to maximize rent from the house hack. 

This way I get paid upfront for my work 1-2k plus I know I have another payday at some point in the future if the deal closes.The costs to fully develop a property and sell for near retail usually involves the costs below and takes 2-6 months or more in some cases, but the profits can be huge if you're working in markets where land costs are high:Title 200-400Legal 500-2000 depending on zoning issuesIf wetlands are present AND its a buffer zone project: 2000-5000Perc & septic design if needed 1500-3000Treescaping & cleanup for retail sale 500-1500Selling costs of 6%I tend to stay clear of properties that need more than the above expense items.  

Here’s a BP blog for more info on this - 9 Vital Questions to Ask When Vetting Your Real Estate Investing TeamTenant SegmentNo property ever paid rent.

We paid $1.775 million for the notes, worked out a modification with the borrower, and received the first 5 monthly payments relatively on time.  

I hope you haven’t paid them any money.

You claim to receive no remuneration for this from the syndicates you are pitching- but only time will tell if you're the only guy not getting paid to raise money for others.

@Raif Jochim I personally like having my primary paid off.

Same as you'd screen anyone else with very close attention paid to which parents you select to guarantee the lease.Are there any specific clauses I should include in a room-by-room lease for a shared living space?

These sellers paid much less than what the going rate it today, likely have no mortgage or low interest rate mortgage and do not need to push rents to market value to cash flow.They get solid returns at their current rental values, have minimal headache with current tenants and they don't need to do major repairs to get their properties sold for a solid value. 

I've owned this house for 2 years.The Costa Rica attorney I've been using says that I need to get another Power of Attorney and is quoting me $600 to do the paperwork for a power of attorney.The price seems steep and I'm not certain when I need a new power of attorney when I paid for one last year.