Hi folks,My wife and I have a construction to permanent mortgage loan on land+home where we intended to build.Unfortunately, we found out that unexpected foundation work due to soft soil would likely make the project use triple our contingency reserve before even breaking ground.We are exploring our options on how to transfer our current financial obligations for this construction loan to some other loan offering (as moving forward with the project is now too financially risky).

He is almost certainly wrong, and on both counts. 

And always ask the question: what's wrong with it..

You'll eventually find out you're wrong.

I’ve always been eager to get started but also too scared to just stick my neck out & make the wrong purchase.

Someone correct me if I am wrong, but form my understanding Section 8 doesn't typically cover remodeling costs for a property.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If you really want to go down that path, I suggest that you apply to work for a syndicator or RE Private Equity shop as an analyst or operator for a year or two, and browse through 100+ deals over that time period, underwriting each one, and trying to figure out, over that time, which ones you were "right" about, and which ones you were "wrong" about, as best you can.

There is no wrong answer. 

If they have done you wrong, it costs you nothing to open a complaint with the real estate commission.