And never being “at risk” is it even sufficient to legally bind a seller?  

I would think that a notice with the addresses and legals of the two properties, including index numbers and such, attaching a certified copy of the name change order to each notice, should be sufficient if recorded against each property. 

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

This agreement with your general contractor acts as a roadmap, with clear expectations and protection for all parties involved.One frequent mistake is the failure to include sufficient detail or being too vague.

@Jefferey Eutsay I’ve found the BP Calculator to be sufficient for analyzing most of my deals.

This will help you gauge whether the rental income will sufficiently cover your mortgage and expenses.Financing Options: With your plan to put 5% down on the single-family home, make sure you understand how the financing works for the construction part.

If there was a clear lease violation sufficiently serious and they were given written warnings to correct the issue and did not then you could probably evict.

If you can hold onto these properties over time (ie cash flow sufficient to not lose money), you have already "won". 

Your track record is not sufficient enough to open meaningful financing doors yet.

I don't like having a job or boss but found them to be necessary evils until my cash flow was sufficient to quit.