Bringing both units to the projected market rents in area still leaves me in the red.

That I’m thinking about pulling equity to put down on a project, maybe moving out of it and renting out.

In search of my first flipping project, I have been beaten to the punch on 3 occasions now mainly because I believe other investors are finding out about these 'deals' prior to it getting to me or my agent through local wholesalers.

Because you have so much capital, you could do multiple projects at once and acquire many units. 

Hi everyoneFirst time using the BP calc , so perhaps I am just not understanding BP method or I am miscalculating , however ....I input a home's data sets with all associated costs and the complete loan amounts, points, fees etc.When the results came back , The ROI was based on the total project costs.. i.e.

  - being able to use projected rents when purchasing a multifamily to be able to qualify- ability to convert properties and increase or decrease units@Abel Curiel - you are correct - rates tend to be higher- normally 1/4 to 3/4% higher depending on factors and timing. 

It would also provide me a place to stay while visiting my other properties/projects.

On our own projects, we always make our own assessments of rental rates, and there are numerous resources for this data once you know where to look.You need to determine the business plan, i.e. duplexes vs. larger project, then have an architect layout the design on your chosen path, then run a set of number (proforma) to determine feasibility.

Somehow I had never heard of this before and kind of stumbled on the info while talking to my lender how some of the flips I'm doing (thank god I did too).The flip rule prevents flippers from selling their projects for a profit for the first 90 days, beginning from the day the deed is recorded.  

Value = NOI/CAP.If possible, base your numbers/offer on the T12/T24/T36 (the actual trailing 12/24/26 month financial statements) rather than any estimate or projected pro-forma they provide you - be insistent that they provide you with the T12/24/36 so that you can run numbers yourself.