As a side note, make sure all subs, regardless of whether you opt to self manage or utilize a GC list you as additional insured as well (not to be mistaken as a certificate holder).

Beside the “subject to” that’s recently become the subject of much debate we utilized  ”no interest short term owner financing”, the “2nd mortgage crank”, substitution of collateral, mortgage subordination, wrap loans, real estate “exchange” (not for tax reasons), sale - lease back, guaranteed rent payments, sale - buy back, land offered in lieu of down payment, zero coupon bonds as substitution of collateral, and a few others that escape my memory.  

@Trey Onufrii It's tough to say which one is the better investment without more details, like - cost of each parcel(s), are there utilities close by (especially the Jomax site), what's the terrain like on the hilltops? 

There is rules around this which is why loans and utilities all offer multiple payment options.

My family and I are contemplating building a 2nd home on Beach Lake or Sunset Lake in particular (5 minutes from Castle Rock Lake) and utilizing it as an STR the rest of the year when not there. 

Even if you don't 'believe in it' the banks, insurers, builders, utility companies and municipalities sure do and the reality is that your bottom line will be impacted..'

Same for other utilities. 

Many lenders will offer a seller paid contribution that can be utilized as prepaid interest to reduce the borrowers initial interest rate by 3-2-1% over the first few years of the loan.

Would you need to provide utilities as well?

She put minimal down and utilized some state assistance to offset closing costs.