I thought about Pueblo also, but again, nothing to good down there either, that didn't need massive rehabing.

Here are the rough numbers on one of the houses, both are similar:Total investment (acquisition, remodel, carrying costs) - $200,000Current value (after netting out selling costs) - $270,000Potential Rent - $1,500/monthI can do a refi and get my $200K back out of the project, that leaves me with a mortgage payment of $1,400 including taxes and insurance (assuming 30 yrs. at 5.5%). 

I personally have been targeting Dorchester recently because there's a lot of value add projects in that area of Boston.

.- 3-4 units still puts you in the residential category- 5 or more units is commercial residential and most lenders will expect you to have experience and will generally have more restrictions on the lending process- A 10+ cap rate in the Boston area will be extremely challenging to find unless you are planning on a massive value add or redevelopment- No idea what your personal financial situation, but a 3 family in Worcester versus a 20 unit requires a very different upfront financial commitment.

. $34k), and I've projected that we could pay the remaining $45k by June of 2019 if we keep going at the rate we are now.  

Not to mention the amount of time the place would be vacant while you do the project.

I would like to do more projects with him in the future.

Cool project Aaron!

Good evening folks, I'm in contract to purchase a vacant plot of land and I'm wondering what loan options have worked for others as a good option to fund the building project, I'm looking to get around 100k if available, I've heard of construction loans, I could also consider doing a heloc to fund it.

Things that my wife and I do that shows were legit is show our past projects, portfolio, and disclose to the seller our repair plans.