Non-recourse is for large commercial projects and something the gurus talk about to get you to buy their crap.  

Given that you are brandy new, I don't suggest this as a first project, because it's almost a guarantee that you will do one (or more) of the following:1. 

Six months into project, when your loan is due, he is still in the middle of rehab, which by now is way over budget, and he has no way to refinance to pay you back.

Really appreciate all the feedback and support, an update on the property, i've gotten current Cap Rate, unit by unit rent breakdown, and even better found out the property is not rent controlled. currently working on formulating the project to present to private investors but i dont have private investors!!!

How much time do you have to be the project manager or would you have to hire a general contractor or a property manager. 

The property management is projected at first at 10% by an outside company and then projected to be performed by the buyer at 2%.  

Has anyone been successful using mobile home property managers with turnaround projects?

Let Rick know that Michael sent you.Michael is currently flipping over 40 homes on Oahu right now, and uses Rick on a lot of his projects!

This is on total project cost with no financing, before tax.

It requires you to use a general contractor for the project, and the total with repairs has to appraise for that value.