That would be a 3-6 project. 

Some like these projects better than others.

Do you forsee the prices of homes in this area increasing like some other areas are projected to (St.

@Tim Herman and @Alyssa Dyer I am currently working as a project manager myself for a general contractor specializing in hotel development, I am certain I can have the subs finish probably sooner as I already know who to call.

But to give you an example: if you are an aggressive investor, you will probably want to have as large a mortgage as possible and possibly put down as little as possible.On the other hand, I'm a conservative investor and I am much more concerned about protecting from downside risk and preserving principal, rather than trying to maximize projected return.

What's the best option for financing a second project?

You can also take a look at different project costs on a site like Homewyse. 

I figure my best bet will be working with REITs who are recycling their capital into new projects elsewhere.

Looking to build a 3 or 4 unit multi-family project in Menifee, CA in Riverside County.

Also for the rehab project is that your own money too or is that money also borrowed from a bank that you then pay back once you refinance etc.?