The buyer can add a performance deed to the transaction which basically states that if the buyer defaults on the loan, the property is transferred back to the seller without a long and costly foreclosure process. 

Remember, that it costs money to refi...if its a small amount of juice to squeeze, I would just run your numbers to take a look at what makes sense for you and your journey. 

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So they'd loan about 450k if your ARV is 1M (assuming this ARV is accurate), and then you can get a gap lender for the difference (180k plus closing costs/points/etc, holding costs).  

What is the average cost for purchase, installation, and the associated app?

Is there anyone that would be willing to look at this property and tell me if it is worth the price and also to give me a rough estimate on what to expect the costs to be?

@Michael Beninati, the difference in your logic is restaurants typically cost $500k and up to get running.  

I have been in talks with a GC in Georgia and his method of building is: He builds everything at costs and doesn't include any markup or fees, he oversees everything, I only supply funding, and we split 50/50 the profits after paying back the bank and all other associated fees.Since I am only supplying the funding for the deal, is there a way I can structure doing this so that this is considered passive income for myself since I won't be involved with the construction or overseeing the project?

I own real estate outside of CA, both in the country and internationally but have chosen to rent in Hermosa Beach due to the high cost to buy a home in coastal southern California.The apartment complex I live in was bought April 1st by an private equity company who gave all the residents a 60 day notice to vacate so they could due a total rehab.   

If the roof needs to be replaced, do you both pay 50% of the cost?