Our agent is not an expert on this type of deal but suggested a short loan term of 3 or 4 years and a balloon payment and written up by a lawyer. 

@Jose Solis you just need a loan for the land? 

Not all loan officers are created equal so if you call up a branch, you are likely to get assigned someone inexperienced. 

Use strategic financing options like DSCR loans or interest-only periods to improve cash flow.

No matter how you do it have a back up plan in the event the mortgage company call the loan due.    

Would anybody in similar position be interested in starting a partnership/s to go in on a loan together?

His solution was to wrap this loan straight into a loan I already had with him.

I work for a portfolio lender as their point person for construction loans, and now I'm trying to grow the division.

I also have two buy-and-hold rental properties and am passionate about exploring unique financing opportunities.Recently, I used a VA loan assumption to purchase an investment property at a 3.3% interest rate, which was instantly cash flow positive. 

No, it was secured but apparently he used the same collateral for every loan he took out.