Where is this project located (just need the city)?

The debate going forward is continue using my own cash (in total control, no interest, can make more competitive offers to acquire properties, higher $ amount returns, no contractor draw requests/inspections to deal with throughout entire project) or turn to a HML who is going to cost me around 10-11% with 2-3 points interest only loan with no pre-payment penalties (much less cash out of pocket, high cash on cash % return, potentially do multiple projects at once). 

I am finding some projects here and there.

My good friend, who has flipped four properties, noticed that I was interested in his projects and suggested that I check out BiggerPockets.  

As someone who likes to be conservative with projections in all other things I do, I totally understand the conservatism here.

Perhaps you can come back to this deal in a month or two and see if things change in your favor.You are a thorough Buyer and do very detailed analysis of your projects. 

Being a general contractor / project manager these days is very lucrative. 

I am thinking about purchasing a used skid steer and trailer this year for upcoming projects (possibly a truck as well). 

Anyone using Thumbtack to find contractors for one off projects?

Without looking deeper into numbers ( purchase price, ARV, potential expenses, cash on cash...) it's hard to see if the deal is worth the hassle.If this is your first deal as an investor I would say this is really bad and to complex project to take since you do not have to much experience.