I bought an out of state property and have about $50,000 left to pay off for the loan.

We would like to take out 90k of equity and the property if worth about 250k.

The absolute best way to get an accurate ARV / comps is to reach out to a realtor.

Have any of you worked on a project similar to this?

You didn't talk about condition of the property.

It will contribute to the importance of insurance (and contracts).I leased a Panama City, Florida, bay front fixer from a man that lived/worked out of the country.

I'm Andres, Founder of Los Arcos Development.

Ultimately the more value you can add to the transaction the more favorable of terms you can negotiate in a partnership.  

Your doing all the hard work and they do the rest..it's been a year since I started and I was informed today that I will most likely not be seeing any kind of payment because I have a low amount of files turned in.

Local MFA returns are incredible at the moment and I'd like to get in on at least one cycle of them, if possible.At the minimum, then, I'm looking for Phoenix MFA deals... but even more specifically, I'd really prefer that the sponsors be based in Phoenix or -- even better yet -- be from Phoenix!