RUBS are illegal and individual meters is not feasible at this time. 

The typical term of this loan is 12 months and rates range from 10%-12%.

Is there a way to find local developers based on zip codes on this forum?

Its this sharp depreciating component which has always prevented such a purchase.  

Interesting question if nothing else. 

Assuming property taxes + insurance added don't go above $1,100 total, you could maybe make this work. 

For the areas of interest (you are local so I'll say suburbs west of City Line Avenue) there are few and far between -and- have many investors sitting on large sums of cash to jump on anything that comes up (where I would be navigating a reverse 1031.) 

@Scott Trench   ​    Interesting.

Hope this helps!

Now here is some advice many will disagree with me on but I firmly committed to this:  Most people that use a VA loan shouldn't.