My situation is I am switching jobs internally with the same company, however I am taking a 50% pay cut and don't want to risk my debt to income ratio on a cash out as neither unit is rented just yet.

@Amy Rodgers There is a huge element of terror involved in putting up a lot of your own money or risking your credit for a real estate investment, especially when you don't have a particularly remunerative job to fall back on.

So I started to shoot for 15k to 18k profit (depending on the scope of work and potential risk) on the next several and finally got one.

Account Closed  when I first went to Charleston 5 years ago I built the first new build on a street that would be considered the HOOD.. hands down.. and it was a risk .. but it turned out that myself and a few others have pioneered what was the hood on the West side of Charleston and proudly have transformed it.. you can do a new build there and have the house next door basically falling down and boarded and it will not affect values to much if at all.I would be all over the brokers if my escalator clause was not used..

If my odds are 9/10 offers will be rejected then I can't take the risk that the 1 I was too slow too was the one I could've had.

She insists it's stable but I've never worked with this before, and am wondering if there are any risks I need to be aware of?  

So just don't add in crazy rehabs or high-risk landlording and a non-condo will let you learn all of that just as easy.

Offer him a fair interest rate based on the level of risk, the type of loan, length of loan, etc.

I would advise not to involve family members in deals unless you have shown a proven track record and the family member understands the risk of not getting his/her money back.

If you don't have a clear scope of work you will never finish a project.2. you cant cut corners with contractors (not all contractors are the same)3. the more education you have the better off you will be. 4. i don't want to do the work myself and creating a process is the best way to manage risk, and optimize productivity.5. * don't trust anyone with your due diligence.I have 2 properties that i purchase over 1 year ago and i'm finally putting 1 up for sale by the end month.