You need to look at return on equity, how much cash flow can be generated putting your equity to work vs the cash flow this property will produce.

So they engaged me to produce results..

The City of Montgomery is the Capital of Alabama with a robust economic environment that has produced multiple awards of excellence at the Chamber of Commerce level.

Add prop tax, insurance, general maintenance/cap ex, P&I, misc and I do not see how any realistic underwriting can show this unit producing an acceptable return.  

I also got involved with a builder in Florida who has yet to produce the first of three houses they're contracted to build, which was a major hit to my available funds as well, setting me further behind.I also figured if I fell a little behind in saving (18 months instead of 12 months for example), I'd still be making progress.

That's not a profit producing activity for a Broker / Property Manager as 99% are tire kickers and the ones who will buy will buy without going on a date with you. 

I can build a 1,000 sq ft cabin including land  and holding costs for about 350k or so and the cabin will appraise out for about 500k to 525k and will produce gross rents in year 2 between 50k to 60k.

As someone who deals and talks to real Private Lenders (small shops run by a guy who lends his own capital and doesn't use big box), they have a hard and fast business model that produces the rate of return they need to remain profitable and curb the risk on their cash.So the best product for a budding fix and flip investor is the bridge loan which includes acquisition money and construction money. 

Value add ( do you want to do reno/raise rents), or stabilized (income producing, lower maintenance). 

I don't think the windfall is as big as you say, or why would you care about large downpayments on income-producing assets that would appreciate over time?