The upside is regarding the construction loan is you can capitalize the interest during construction increasing your basis in the project, The downside is you will need to bring a decent down payment and if you don't own the land or have any construction experience, and you'll need a partner with developer experience especially if this is your first project.I would recommend a JV with a developer, maybe a reduction on the developer fee in exchange for something on the backend of project completion, there are a few good ones out there that do small projects as well.

This would not prevent your debt to income ratio from being too high, because the mortgage would initially be in your name the banks will still view this the same.Lastly, the six figure bracket is not always as easy as it seems in real estate because things will come up that you completely did not expect and take a huge chunk out of what you're expecting.

The vast majority of the properties go under contract before the rehab is done, however, the investor doesn't close until the rehab is done, an inspection completed and a tenant in place.

What if decides to go after it on his own and cut me out completely?  

(We are keeping the 40k in a completely separate bank account) My questions for local NOLA area BP users:What areas would you recommend for a first time flipper?

To avoid this conflict of interest, you must keep your activities as an agent and your activities as a wholesaler completely separate.  

I own 4 rentals and I have 3 flips going currently (1 I just started, 1 almost complete, 1 listed for sale).I am looking into commercial properties as my next step.

Hi BiggerPockets,My name is Antione and I'm completely new to Real Estate investing.

I also completed my pre-license course of October of 2015.

One thing I will say (or simply think/my opinion) is that the VC backed larger ones will never be local and like most real estate, whether it's buying or selling and VR PM...that you'll always have a better experience with a local expert.