I am a twenty year plus licenses GC who has built over 100,000,000. in commercial and residential construction in the NY, NJ, PA, CT and CA marketplaces.

What is your experience with construction/renovations?

But, is this a 2020+ construction or a 1950's construction?  

Your best/safest bet would be a regular lease combined with an option to purchase.

The provider I am using allows for 60 days of continued coverage once construction. 

I have 10 years of construction experience and my partner does as well.

there was a follow up post where someone got a loan from them but for realistic rates  8% or so and few points.. under 6% private / hard money simply does not exist unless its a family friends type situation. that bank rates or lower right now for new construction or fix flip  

I'd bet that this note is worth more to you than to most buyers until the note is much lower LTV, but I'm a novice in this space.

He usually buys in C neighborhoods and has to do heavy rehab, but he's a construction guy that also runs his own property management company, so it's 2nd nature for him.

Like Jay said, often, new construction does not go as planned.