If you are using hard money you need to budget for the points and fees as well as traditional third party closing fees.Repairs: The money it is going to take you to rehab the property plus an extra 10% of estimated repair costs to account for unexpected repairs.Holdings Costs: Here is where a lot of investors get tripped up.

In fact most investors start out with traditional banks.

Is it possible for me to do seller financing for a year or two until I can refinance to a traditional loan?

Many investors use Summit Title, particularly on non traditional transactions 

Well it sounds like a traditional eviction situation.  

While I have made several traditional investments in real estate in the past, I would like to learn about more creative ways of investing in real estate - such as flipping, buying with little or no money, short term lending, etc.

@Monte Mabry If you are buying a property using traditional lender, then yes.

Here is the scenario:The project has gone on twice as long as expected, therefore holding costs have been twice as much.The project is maxed out for 203k limit for a 3 unit - meaning nothing more could be borrowed on it at the time, regardless of DTITo close out the 203k, the property has to go through final inspection with the cityTo go through final inspection with the city, we need about $40k of additional work (including new 1.5" water service)The property is not performing, so the banks see my DTI at the moment as very, very high - too high to get traditional financing, almost any way you cut it (HELOC, etc.).

I have extensive experience in traditional and digital marketing and branding.

Say your market all of a sudden wants tradition homes and you made yours too modern and it sits.