I would source the property, work-up the pro-forma and do a preliminary analysis.

I have utilized a cashout refinance strategy to obtain some additional funds for other projects.

I have utilized a cash-out refinance strategy to obtain some additional funds for other projects.

Can borrow up to 80% of the acquisition or up to 50% of the “as-completed” value or ARV (whichever is lesser).Seems like it may be a good loan for someone trying to do a "BRRRR" or similar type project. 

Is my analysis totally wrong?

.- A bit more time consuming, but you can run comps or do a CMA (comparable market analysis).

I have about 25k into the project.

My partner and I are under contract to buy an apartment complex and it happens to be in an opportunity Zone we didn't even know it when we went under contract for the apartment complex and some nearby a couple of other complexes that we have and this one just happens to be in an opportunity Zone doesn't even appear to be a rhyme or reason as to why it's in an opportunity Zone. that being said it's not a redevelopment project and we're not going to be able to take advantage of the tax credit because there's no way that we can put a hundred percent additional Capital into this particular project but what it did is it got us thinking there might be another property nearby that does need that kind of redevelopment and so now we're actively seeking other properties in that same area that will help us build our existing portfolio and potentially get significant capital gains tax deductions at the same time.

@Joshua Hollandsworth If you don’t have your real estate license, find an agent who is willing to provide you with a market analysis of comparable properties - both in the same shape as your property currently, and in the same shape as the updated property nearby (but without the perks your property lacks).

I am considering using ePipe to resolve pinhole and slab leaks, rather than a complete repiping project.