New to real estate investing. Should I do a New build or flip??

[Joshua Waters]

hey guys. I have a couple of questions, I was hoping you guys could help me with. 

I want to start building new homes in the houston area. I don't have much to start with. 40k. I have found some decent lots, not great, I can purchase anywhere from 25-40k. Where I can build a modest new home. 

My question is. If I buy the lot cash. Will the a bank lend me money for the construction of house since I already own land. Not require more money down. 

Second question, is better to finance the lot and the construction loan all at once. 

3rd question. Will a pmi lend me money on a new construction 

4th. Should I just look to flip. 

A little back ground from me. I was once a trim carpenter and now build luxury homes for another company. Roughly 350 a sqft sales prices. (1 mil-3mil price range). So I feel more comfortable building new. I know the process well. However, it's a longer turnaround building new. Let me know what you guys think.