We had wonderful guarantees and a signed contract.

Welcome to BP, you've definitely come to the right place!

.: Thanks for the replies I totally understand you can not eliminate risk 100%I was just wondering if there was a safer way to handle this. 

Definitely requires professional advice from someone familiar with your state tax laws.To be or not to be?

I would definitely suggest looking up the new ordinances that have been put in place here.

I'm working on obtaining a construction loan and I was wondering if anyone knew if these were relatively decent loan terms

While I can't prove this definitively, the posting behavior strongly suggests this isn't coming from a typical satisfied customer.What's interesting is how this latest post is carefully crafted to rank well in Google searches for people who are searching for education on land investing.

Alternatively you can do the LOC (line of credit) on it so you can retain the home but are definitely subject to today's current rate environment.

Hey Emmanuel, I wonder what areas you are looking at the moment.

I'm wondering about servicing these after completion on a longer term basis following a DSCR guideline as they will be rented, and then selling them in a secondary market.