You can substitute experience for market knowledge by spouting off a bunch of accurate data about absorption rates, comparable sales in a neighborhood, finish levels of renovations, etc. 

And the absorption rate ranges between 35% and 50%.  

I recommend finding a market that has the following: good employment trends (it should beat the national  unemployment rate)job diversity (no one industry makes up more than 40% of the economy - the lower the % the better) good supply and demand - check out the availability of homes compared to the # of people looking (it's called the Absorption rate) a good team that is experienced and you trust (probably the most important because the money is in the execution of the biz plan, not creating the biz plan) 

You could also look into construction/absorption rates of units in the area which will paint a picture of the supply levels in your market.

Define size of each market segment - Number of units sold, dollar values, absorption rate (avg. time it takes to sell)2.

The absorption rate for January 2016 is the highest for the first month of the year in their table for both single family homes and condos. 

,MLS is fantastic for knowing days on market, concessions by sellers, absorption rates, and what a property might sell for.  

Once the bank sold it's entire inventory, I think it would be a gold mine but the absorption period is likely decade+.  

Time is short for him and he has agreed to sell for the ank payoff, which in this case is 303K.The place is upscale and immaculate, and repairs are under $8,000 and house could list in less than 2 weeks.Comps in the immediate neighborhood dictate listing at $360-370.The market is Northborough, MA and the absorption rate here is positive.The 70% rule says I can't pay more than $252K for everything. 

To answer you question, the best way to get financing is to put together a financial proforma including an absorption rate for selling off the parcels.