As well, I have a small new construction condo project and having a really hard time finding funds for it.I did few flips using my own credit and conventional mortgage to finance it but there's certain limitations to these approach as well as rehab cost is not lender's concern.

@David HarleyIt is hard to opine on this without the context of market and property class/condition, but what I notice from the analysis is the CoC relative to loan amortization:  For a 25 year loan and $28k cash investment, demanding a return greater than 14% may be in your best interest.  

Options/Advise requested.Looking to purchase an old home with low money down (up to 5%). Home need quite a bit of cosmetic work, most of which I am capable of doing over time. I am trying to avoid an FHA (203K) becaus...

However, my flip went over budget about 15k and took a few months longer than projected. 

View report*This link comes directly from our calculators, based on information input by the member who posted.Im thinking 80- 100k to convert it. not entirely sure though as im a bit green for this big of a project. please advise

The 7-unit I bought as a value-add property and added about $100k in equity over the last year, so I'm not opposed to doing similar projects in the future if profitable.I know how to analyze a deal and calculate NOI when scouting properties (though admittedly these properties were acquired many years ago, before I knew much about RE investing).  

Use the Bigger Pockets calculators to estimate the project.

The analysis is actually very much the same (ROI, payback, etc) as if you're looking at a deal - but, you might be deciding on counters etc.  

I didn't encounter any peeling paint in those projects so I can't answer beyond what my experience has been.

I am working toward my first flip now and luckily I only have a '84 VW project rabbit that is worth more parted out than whole, so I don't have quite the dilemma as you.