You are able to pull out $75k after spending $80k. 

I would recommend before the appraisal, so you don't spend money on the appraisal unnecessarily. 

These types of organizations tend to bring in those that understand, that you have to spend it to make it.

This is an entrepreneur's game of cart before the horse and horse before the cart at once--place property under contract not knowing if the deal will happen and spending at-risk soft cost dollars. 

You get the money on pay day, so they don't have a chance to spend it on something else.

Plus, they're spending the money to have it done!

Maybe the city should have left the parking lot at Spring and Pearl instead of spending millions to turn it into a park.

We are on the same page.I'm limited to working with institutional investors only, as we are hitting that $10 billion threshold where I'm subject to CFPB rules and regulations. 

Watch credit card spending. 

Mind you this is a multi billion dollar fund, so I don't think the average joe investor would get the same option.