At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

@Ella Marie the Pro's are you can build long term wealth, the Cons are you can lose money if you cannot properly quantify risk.

Keep in mind, you should have already had a conversation with the hard money Lender to know their terms and process, and be ready to perform. 

Hope you don't put down large earnest money deposits... these guys will make sure you lose them! 

If you find you are unable to raise the money for an all-cash purchase, switching gears to Fannie will only work if you have a LONG time to close in your PSA or have many extension options (which usually require more hard earnest money.)

We're in the business to make money right?

I figured why not just use a banks money instead of using a customers money and not have to deal with picky customers.

I fund their deals 100% they make money I charge nothing up front I only make money when they make money we get paid the same day off of the HUDs..

If you are borrowing money, you are going to be using equity of some sort.

When you borrow money you agree to pay it back.