I use the same formula for each project although I realize it is difficult to make 20% on a project that needs very little rehab.By the way I subtract a total 12% from the ARV to determine my net proceeds. 

As I was finishing my degree in aeronautics I realized that while I love flying that is not where I want to be for a career.

Then after I realized forced appreciation, I switched for good.

There's a great chapter in Think and Grow Rich by Napolean Hill that talks about setting and realizing goals.

(you can still pull cash out of your residence even with 5+ mortgages)One thing most people don't realize, is they will look for ANY mortgaged properties,,I was getting my fourth mortgage, but bought a 5th house with hard money while I was closing on #4...,, they discovered it (I had purchased after I filled in the loan application for mortgage #4),they said that required mortgage #4 to be counted as my 5th mortgaged property, so I had to follow th guidelines for 5+ for mortgage for #4 and all future mortgages (make sense?).

I realize that this is going to take time and am not expecting this to happen overnight.  

Now with my spark renewed, with some luck and good advice(hoping from here ;)) I can realize my ultimate dream of land development (long off).

He said that private money always says "Yes"Hard money is instrumental to our business as an acquisition strategy while we create or realize the equity.  

I went back and looked and realized that I had never thanked y'all for your answers. 

Instead, I've realized that the best thing I can do to advance in real-estate is work my tail off as I am and provide money for our partners.