Be mindful of the harsh winters and short construction seasons, which can affect project timing.

Was able to get a meeting with the seller and negotiated using evolving knowledge of construction and deal analysis in addition to discovering seller motivation through direct contact.

Are there other options that could be better for a construction to perm loan (not through a traditional bank)???

I think you've forgotten about the concept of Constructive Receipt. 

As mentioned before too, newer construction tends to sell at a premium too. 

You can make the determination by examining the mechanical systems yourself and finding out their age or hiring an inspector to evaluate the systems.

The two existing LTR units (on my family’s property) were built 5–8 years ago at a cost of about $80,000 per unit, so I’m estimating a 20% increase in costs for the new builds.My plan is to use the equity in the land as the down payment for the construction loan, which I expect will make closing costs the primary upfront expense.

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

I've got plenty of experience in both site built and mod construction.