So if we underperform the pro forma and we end up losing up to $100k on the deal, he would share in that $50k loss and I would eat $50k of the loss.Is that what you mean?

I have a good income producing job, however, I have a 6 member household with teens, preteens, and children who are eating up my house like Pacman, lol. 

Purchase price: $68,000 Cash invested: $5,000 Sale price: $99,000 4 Unit quad in Medina NYRenters were tough and management company's locations are too far for a regular check up.Had a renter pass away and then DCS came in and the house was condemned due to farm animals in the upstairs unit where the person passed.We were too far to keep tabs on this investment so we sold the home.

Please be careful, at higher amounts leveraged, the carrying costs/time value of money can eat you alive if you have any hiccups in your project. 

So it's unreasonable to ask for a general price because any number that someone gives you site unseen is either: so low that the builder will eat the cost, lucky and spot on, so high the builder covers the worst case scenario but the investor would over pay if there are savings because certain things I mentioned above are applicable. 

Sounds like a case where you can have your cake and eat it too.

I have a tenant with 2 certified service animals (dogs).

Not to mention if your house doesn't appreciate, you still pay 20% of the sales price which will eat up a chunk of the equity you've paid down.

Make sure you get a "Release Fee" on each property; this is an amount that is to be paid to release a property as collateral in the event you need to sell, or if you have an insurance loss that insurance proceeds will be applied to the subject property and not to the whole loan keeping you stuck with an encumbered damaged property, remember they don't make construction loans as a second and the blanket loan won't subordinate (usually) to another lender, it could get messy, so have a release fee stated and understand how payments will be applied.A line of credit is not a blanket mortgage but a line of credit can use other collateral, different animal and it may or may not fit you needs.

You will need to pay the agent a commission, which can drastically eat into your cash proceeds on a flip.