Your best person to speak with is your banker before you make the purchase.

I work with community bankers all over the country that work with OOS investors.

I was a banker for many, many years before we started this company.

Deal with contractor timelines, and bankers funding strategies

The hope is to build experience and open more doors in the future for new builds.I also just had lunch with a banker on Friday who said they have been opening up and relaxing on real estate again…for everything except non-owner occupied construction - that is still a no go for them.

As a Banker I usually get my customers approved for their construction financing and then offer a builder who we already have approved in that State/County.

As a Banker my advice is to always have several conversations prior to and be very transparent with your Banker or Loan officer.You can use real estate to position yourself into a better or bigger home buts is like chess there are rules and you have to know in advance your next few moves. 

I was just talking to a banker who moved from Chicago to Knoxville yesterday, and he said it has become unaffordable and unlivable, in his words.

I do know my usual banker has moved from the commercial side to residential.

I would just be up front and ask the banker what they would want done.