As a result any “offering” must either be a registered securities offering, or qualify for an exemption from the required registration.

What % is typically required these days? 

What you spent on the land/lots can go towards your down payment and, if you've owned the land for more than 6 months, you can use the value of the property toward the cash injection requirement.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

It likely would require something grossly negligent with huge consequences to have a chance to go beyond my coverage and we are not that negligent. 

If you can find practice tests, that is my recommendation - that is what I did after taking the required time component and did not have any issues passing the test. 

As Jonathan mentioned it can be done, but they may require an appraisal of the property. 

OccupancyMost lenders require a minimum occupancy rate of 85%.

A higher LTV generally requires a higher DSCR ratio such as 1.25 instead of 1.