@Ryan Lee, errors like this are fairly common.

. :-)With that being said what you were doing is definitely a gamble.

As for a information to specific grades for neighborhoods, you may struggle to find that as it can be fairly subjective.

I'm looking for suggestions on how I might fairly structure a deal and still keep the current mortgage I have, at 3%.

This particular tract of land is a fairly rectangular 7 acres (400'x700', more than needed) and is owned by someone who stopped using it prob 10 years ago.

If location isn't a big factor (does not seem to be based on original post) I would highly recommend looking into building a barndonium or shouse in an an area where you can get a tract of land fairly inexpensive and has little zoning regs and requirements.

To be fair, some of those issues may not be covered such as contractor's cheating you and I have never seen a pipe burst cause a total loss.

Fair enough.

How do you fair late in the year rehabbing/ flipping houses?

Asking for a prequalification letter from them seems like an easy and fair exchange.