Financing New Duplex Construction

[Ryan Walker]

I have a client who owns a lot in booming East Austin that can be subdivided into 2 lots where he can build 2 duplexes (1 duplex on each lot).  He owns the lot outright.  My question is what is the best financing strategy (and why?) for him if he wishes to have as little out of pocket expenses as possible.   Client is also self employed with very little income over last 3 years.  

Lot Value: 300k

Total Estimated Construction Cost: 600k