@Ravi KaruturiRavi, a Project with a $10M “all in” cost will typically support a 70%-80% loan to cost (LTC).This means that you can borrow $7M-$8M which means that you will have to invest an equity infusion of $3M-$2M.More fundamentally, if you are asking a question like this, your priorities need adjusting.Raising capital from whomever, and especially from friends and family must come after you have acquired and can demonstrate the skills necessary to build a $10M ground up development.I believe that if you pursue a plan to raise the equity required that you will find it very difficult to secure bank debt without a track record and or the skills noted above.Feel free to reach out to me if you want to talk.

The reality is that getting started in real estate is best done from a position of financial stability and strength.

You got to get a little vulnerable on here...What is the plan? 

The plans that are coming out are promising.

This is more for future financial planning, but it will incorporate REI for the meantime.

I've read quite a bit about the Raleigh Durham area RE market blowing up because of all the corporations that continue plans to move/grow there; the eye catching announcement a while ago being Apple with their 10 year plan of adding a few hundred more employees each year.

Check with your insurance company first - they might have an opinion on what you are planning on doing

He actually just recently bought another duplex in the area that he said he plans to house hack for about a year too.

After repairs I plan to move out possibly owner financing another home and renting out current home.  

It sounds like you got lucky and the process was quick and went according to plan.