A few articles say it's a soft pull on your credit, but if you soft pull multiple times, it can affect your credit negatively. 

(soft costs)$15 sale price - $1 soft costs - $2 rehab cost - $10 purchase price (down payment + loan) = $2 left over--I got the money back that I put into the deal ($2) PLUS I profited an extra $2  

Communication, writing, making presentations, soft skills, project management those are all things that although not directly related to your major are in high demand these days and work to your advantage in almost any environment.

@Greg DickersonThanks. 30%. sounds like a very safe margin.I've heard the term soft costs used by residential developers when separating costs of land, debt service and the hard costs of construction.

Are there any companies who can pre-approve with a soft pull?

Thats why due diligence is a big part of development and thats why development is higher risk....because you have a lot of soft costs up front that you could lose.

It looks like you are forgetting the soft costs in the equation.

When applying for loan for new construction, I have to provide a take off (estimate), with soft cost and hard cost, with a set of plans.

You'll also want to brush up on your vernacular before you talk to any lenders.

Buy on contract, use hard or soft money, just dont use your own.