Also - you probably wouldn't want to close on the property without insurance as you would also lack protection.What is the reason you can't secure insurance?

This financing option provided the flexibility needed to secure the land and begin planning the development of 12 patio homes and two duplexes.

By highlighting my ability to close quickly and my plans to enhance the property's value, I secured favorable terms that fit my investment goals while laying the groundwork for the broader development project.

While contractor availability and supply chain slowdowns are challenges, they plan ahead by securing labor and materials early and building in project buffers.

 You may be able to secure higher leverage financing through alternative lenders than a traditional bank (not always the case) and this may help advance your objective of reducing the down payment/cash requirement but that may only be temporary relief as you will likely pay more over the course of the loan because of higher rates and fees.

@Christian Gibbs appears you're throwing good money after bad:(How did you come to own this house?

By leveraging my knowledge of the transaction and timing, I negotiated favorable terms, securing a rare townhouse investment opportunity in Charlotte’s historic Fourth Ward.

By leveraging my knowledge of the transaction and timing, I negotiated favorable terms, securing a rare townhouse investment opportunity in Charlotte’s historic Fourth Ward.

How should the security deposit be managed in this transition?

I feel like just about every month, I see RE investors with 1-2 year's experience starting a new fund and advertising on Facebook for LP's, as well as the daily "JV deals" that straight-up violate securities laws.