Is this using a 20% down, conventional or DSCR loan, although I would think a first time investor would use a conventional loan.

Here are a few alternatives to consider for your next property:One option is debt-service coverage ratio (DSCR) loans, which are specifically geared towards real estate investors.

You would need to let them know you are 2nd lender and want to pay the loan off.

Once construction is complete you could refinance out of the construction loan into a DSCR loan.

Doing a 75% 1st mortgage and 15% heloc or heloan would likely give you better cost of funds all around.If this is an investment property, you can do 80% cash out refi using NonQM loans such as DSCR loans, but at a higher cost/rate than if you stick with 75% loan to value. 

FHA loan through my mortgage broker associates.

Are you looking for better loan terms from the lender?

Make sure you talk to a Banker or Loan officer that is well versed in both SE (Self Employed) income and also Non/QM programs.One tip I will give you as a Banker is open up a "Business Checking account" and for the next 12 months pay "Everything" out of that account. 

You typically need up to two years of stable employment before a bank will loan to you.

And your point about a lingering HM loan makes sense.