The contractor also committed to informing me and getting my approval for any cost changes during the project.

Quote from @Scott Scoville: Just finished one of our bigger projects.

With the right renovations, we saw it as an ideal project to maximize returns in a growing market, especially with our experienced partner, Seth Choate, by our side.

In my experience, making on-time payments and making it clear that they are the first lender I am calling to fund a project have been necessary to building a strong relationship fast. 

If you have cash on hand to fund the rehab and want to extract it soon after the project is done, you can use delayed financing.

The answer is that if the lender that's doing the hard money loan is only funding the purchase and not the rehab, they then have less oversight of the project since they're not doing the draws, and thus not seeing the progress of the project and having control of the funds or draws from the rehab to make sure the project is progressing.

After designing 100+ projects in 22 states across the US, we’ve come across almost every type of home, ARV, and target buyer.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

The builder could easily take on the project itself.

The property is in a rural area, so I'm trying to project how much demand there is.