Your money can be the emergency money and also used to start the rehab and remodel and get your money back as you complete your project. 

Personally I feel he earned it that’s his money.

And if someone is very successful in real estate they would not have time to mentor someone, especially someone they do not know and do not interview to judge if they think they are a right fit (and just take your money)

You could sell for cash even for $20k less and put that money into private lending and get 10-12% which over 15 or 20 years would crush the returns you would get with this deal.

It would even shock people without money problems, that's a $5400 a year hit... 

(After I sought to be redeemed, I learned 19 of the 20 original investors got their money back out of the refinance.)

I have the money saved for the rehab but I would apply for a loan to cover the majority of the rehab and use savings for future repairs. 

I haven't lived in the house since August 2021, my husband hasn't lived in the house since January 2021.We need a consultation on how much money we can get and how much taxes we will pay if we sell the house around August 2024.

If they did not, or could not do this, the property would go to for closure and the first mortgage company would end up with the property The next question would be do you have the money to buy the house?

However, rate would be prime + index + an additional +2% for the shock factor just to qualify, but you can draw the funds whenever you want and just pay the balance + interest vs cash out where you have to draw all the money after closing.