I have a competent and trustworthy friend that is great in many aspects of construction and rehabbing.

Until you are flush with cash, focus on negotiating your best deal terms, price is secondary.If you are physically able, consider work in the construction trades and don't get tied to just one job.

For anyone that has done new construction deals in Philly I have a question.

 there are some banks that do construction to permanent loans, with a cash out at then end when work is complete.

My thought is that I can increase the Heloc on the property once the addition is complete to use toward my next purchase.Pros:- Total cost in the end is far less than any other option (by over $100k)- Monthly payment is reduced by $900 after 11 yearsCons:- Can’t pull money to make another purchase until apartment is constructed, (if the market will still allow).

He also done different management jobs in constructions.

Financials and Capital Structure:Purchase price: $960,000 Construction Loan: $250,000Bank Loan Amount: $970,000Equity Contribution: $240,000 A local community lender was brought in as the lender on the deal, providing 75% of the acquisition and 100% of the construction funds with favorable terms (including interest only year 1 during construction/stabilization).

In the next few years, I would love to assemble a full-cycle team to acquire, fund, architect, design, construct/renovate and manage/sell properties.If you're looking for a partner, have a need in your business you need filled or just want to chat, I would love to learn as much as I can and meet positive, hungry people in REI. 

No It needs to be your primary residence single family home in order to leaglly pull a permit as a homeowner in nj. if you dont know the uniform construction code, international residential code, dont have a background in construction and dont know the rules and regulations for this state the inspectors will eat you alive on a major project.

Everything not just materials and construction management.