Personally I would turn and burn this as quick as possible. $100k is a huge undertaking for your first rehab (Good on you for jumping all in) That being said, flip it, build up some more money in your pocket and just keep doing it again, again and again.

Burning relationships to make an offer that will be rejected is simply foolish. 

Commercial loans are typically a 5-10 years balloon and if values are down when the balloon is due or a covenant is breached, then you better be prepared to write a payoff check.Again, not saying leverage is bad, but many out there with a "leverage to max" mentality will likely get burned. 

I had a fix and flip burn down because of a swatter. 

Otherwise, you could just be burning money.

agree, in an expensive place where land is scarce like Hawaii, renting is burning money.

However if you're currently burning through your savings to cover personal overhead then get a job yesterday.Good luck!

However, I have a burning desire to gain experience, work with/for current professionals, and begin this journey. 

I had real concerns about burning through my (not insignificant) reserves if we had long term rent loss or the space go dark and had to re-lease it in this market. 

Having a burning urge to succeed (financial freedom) not necessarily for yourself but to take responsibility in making other peoples life better and meaningful.