@William Coet - Agreed, at face value it is not a red flag, however being unable to raise all of the capital prior to closing is indicative of it not being a killer deal.

Sounds like you got a killer deal and added some instant equity...WELL DONE!

However lack of communications from your GC / builder I agree frustrating and can be a killer to the GC's reputation..

My pest control company sprayed this mold in my crawlspace last year with a mold killer last year, but I'm not happy with the results.

That is sometimes a killer if I need to get there in a pinch.

I understand the contracts, financing ( I was a loan originator), what can and can't be done, I know what keeps you from getting sued, how to set a price, I'm not offended during a walk through if the house isn't perfect and someone makes a disparaging comment (they are thinking out loud to see if it sounds right to them) maybe it's not actually a deal killer.

It's just not a deal killer in most situations so if you like everything else about it, I'd pull the trigger!

@Josh Green is a killer resource in that area and can give you the pros and cons of both markets. 

I have a killer contact that does DSCR nationwide, let me know if you want her info.

Chris has a good reputation on BP, especially in what can be a killer market (Memphis) if you don't know what you are doing or where you are buying.