Would love to network with some people to get to know the area and the market a little better, as well as to hear about your experiences.

Having a rock solid SOW can prevent many of the issues that arise during any project.

Curious to know what you would suggest for durability and longevity for a long term rental.

@William Grantham welcome to the site!

Welcome to the community, Randy! 

I found one, who was able to grant an exception for the DSCR ratio and close the loan.I contacted The Mortgage Shop after the fact with a full history of what had transpired and asked for some compensation.

Set aside a big pile of cash or rely on a line of credit you won't be using.The oversimplified insurance concept is to pay a small premium to cover a large loss.

Few things to lock down:•They need to be full service with a legit staff—techs on payroll, leasing agents, someone handling PR when tenants get weird.

@Thomas Farrell if you have any experience managing property/construction projects, I would look in to flipping properties and keeping the once that you see an acceptable cashflow on when finished.

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.