The builder will need to supply a Cost analysis, Blue print and a few other things prior to the Draw being negotiated and set up.The land that you own will act as "Equity" to offset the LTV/LTC so you are off to a good start. 

My agreement always calls for prior to close of escrow not a date specific.  

@Marc, are you saying that if you look at the up to date eviction case records, there is that change of address form filed and with a dated (expectedly, with a date prior to when your letter was due) stamp from the court clerk on it?

ASSIGNMENT, SUBLETTINGThe Tenant may not assign this Lease or sublet (or sublease) all or any portion of the Premises without the Landlord’s prior written consent.

Great point, Jamie, about hosts who bought in years prior.

Before I paid $800 for an apprasial I wanted to make sure they would lend without prior rental history.

So having a plan, ability to do some things yourself, and building a team prior to starting is helpful in reducing some of that risk.

I'm comfortable with putting together estimates for the rehab, at least for the up-front financial analysis prior to getting real bids from contractors.What I'm less equipped to do is project the lease up story based on supply, demand, and other factors relevant to the area.

The part about common sense going out the window when taxes are really high I have experienced first hand and in my prior career in tech personally did.

With the increased competition among sellers, it’s crucial to prepare a listing to stand out among the rest and work to address likely buyer objections prior to going on market.