People read too many blogs and think maxing out leverage is good, but most of the time it's not if you are newer because of what @Chris Seveney said.Having equity in your home is a balloon you can keep in a closet for things, but too many people rush to use it.

If you want to do it, go ahead and do it.

You are way ahead of most of us.

As an update though, we did move ahead and were able to secure a 1X close construction loan that automatically converts to a 30-year fixed rate. 

Rich, go ahead and make your counter.

I would love to purchase ASAP but don't want to rush through this process especially since it is my first time.

McGee I agree with @Ruben Kanya 100% As a newbie I think that you shouldnt get ahead of yourself trying to outsource tasks when you havent done a deal yet.

Rushing the Process* Take your time to find the right home.2.

It's like this:If you try to rush on a rehab you most likely will mess up somewhere right?

if your serious just send them progress not perfection is the key. get talking to people and see where you mess up then pivot and fix that screw up. if you are writing letters you are far ahead of many. i would also say to add about terms cash buy/no fees or closing cost/ as is/ and so on\.