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. 

My parents in their older age require yearly cash flow, while I, as a young whippersnapper, could go on eating ramen all year if it means a big IRR rip when my condo project finishes next year.

I work for an architecture firm where I create budgets, cash flow projections, prepare and analyze the financial statements, create A/R receivable schedules, etc.