Is it possible to build a duplex with zero out of pocket? Would this method work?

[Dan Ward]

Ive got a friend of mine that is a bank loan officer and he believes that he could get me a loan to build a rental duplex. Lets say I can build an economical duplex for 70k and it would be appraised at 100k. So, the bank would loan up to 80% of the appraised value which would cover the entire cost to build the duplex correct? Would something like this work or not to avoid having to put 20% cash down?