As he is obtaining the approvals (and once he is far enough along to have a good sense of what is going to be approved) he will start marketing the approved project to a more institutional developer (i.e. a national home builder, a large multifamily developer, etc. depending on the nature of the project).

That said, we are joined by Brookfield and other large institutional investors actively acquiring in our target neighborhoods and looking deeper into the data. 

Any ideas of any financial institutions that do this kind of loan for this kind of property?

I'm a big fan of the 5-50 unit space, because you don't get competition from many of the institutional investors.4.

All the equity sources that I know of are institutional sources that invest in REIT level deals and are WAY to large to ever take an interest in my middle market $3 to 6 million deal.

Then both institutional investors and everyday investors (you and me) buy them as part of our portfolio of stocks. 

I hope to get institutional financing from Fannie or Freddie.

Hi all. Rookie investor looking into the process for refinancing and possibly doing a BRRR deal in San Antonio. I've bought an SFR with HML and it is currently being remodelled. I'd like to rent and refinance it .  Th...

Lots to be figured out, but I suspect you will either need to have no loan, a relationship with the lender (private, HML, unique relationship with lending institute, etc), or a specialized loan created for the SB9 situation (these specialized loans have worse terms than F/f loans).  

There are only a few institutions in the country that offer non-recourse loans.