My RE investment plan

[Sasidhara Manthena]

Hello experts,

Here is what my RE investment plan..Not sure if it has any specific name in RE world. 

My plan is to buy a single family lots in the neighborhood, and construct home in it and either keep it for rent(for some time and sell) / sell right away. Math is Land cost = 20%-25% of the total project cost(land+construction). By putting this as my 20% down and get the construction cost as loan from the bank. Now selling price should be 30k~40k more of the project cost. Would this kind of plan is feasible for the banks to to lend money for construction? Have any of you done this before? If so what are the pros and cons? Please let me know. 

Thank you,
MS.