Supervising subcontractors, meeting inspectors and pulling permits can be a full-time job.Funding a flip:Pro: Funding the right flip can be quite profitable.Con: Correctly evaluating the project and the flipper requires extensive knowledge about construction, permitting, zoning and real estate resale values.

@Shawn Sternick The 15% remaining, are they projects that can easily break the budget?

You can get a blanket loan for all the 4 units if they are separate owners.Even if they're purchased in separate transactions with multiple owners, you still should underwrite the whole portfolio as one for future projections, depending on your exit strategy.How you present the proforma and executive summary to the lender will depend on how you purchase the assets.

We have experience rehabbing properties together, but this will be the first time we venture into a short term flipping project.

He is busy with other projects and has not been able to make repairs happen to get house rentable so it's been sitting since he purchased the property.

Did you try and save money and do a DIY project at the local Home Depot and put in the sweat equity?

And to make the matter worse, there are no projects forthcoming, which makes the prospect of selling nearly impossible.The lesson:When we invest, we are buying into a market, not just acquiring a property.

It's not always easy to stay on budget with a project. 

I'm doing most of the work myself, saving a LOT of money but I'm putting a lot of time into the project.

This is Not a “figure it out as you go” project......many times the short sale is doomed when the purchase contract is signed, not considering all the proper factors that a first timer would never have heard of.