BP has been a huge part of the successes I have had to date in real estate. 

We haven't found any places to build, so my experience is limited. 

Regarding your question about refinancing and cashing out the equity in the home, the Fannie Mae guideline states:“The property must have been purchased (or acquired) by the borrower at least six months prior to the disbursement date of the new mortgage loan except for the following...”The exemptions to this rule being if the property was purchased with all cash and qualified under the delayed financing rule, or if the borrower acquired the property through some form of inheritance (Divorce, etc).

Also won’t drop as much as you think, as most people are limited by their DP, not the level of debt they can service.  

I liked the ease of being able to complete the course online and my own pace, however there is a time limit (I think 6 months) to finish the course.  

@Bruce M. those websites showing you what a project costs and what it will return usually don't refer to investors, more or less a homeowner with a dated but decent kitchen/bath that they want to redo.

right now I’m doing rentals in a town that’s making good stable cash flow. The town has  a lot of potential for further investments in my niche. Unfortunately the town is primarily low income and lacking a loT Of near...

The reason I ask is if you are to borrow from family and friends I thought the norm is about 8-10% in interest but if I can get a loan from a primate money broker for 6-7% with no limits on loans, why should I strive to get money from friends and family and potential have more people to answer to?

With new limits on proposed tax plan, should I rent my home to myself

Your contract does not seem too limiting or complicated and I think contractors would be willing to sign!