However, modern appraisal practices require that these spaces with low ceiling height be valued LOWER similar to how a finished basement is valued.

Make sure your painters are respecting the finishes and not putting dripping paint cans on your brand new finished counters.  

Please tell me where interest rates will be when you finish your construction loan and need to put in permanent financing?

A lot depends on the type of wood and the current finish.

For me, I have not yet finished my research, so I cannot tell you my choice. 

No refund or even an attempt at attaining customer satisfaction.

So you need to determine who your customer is, what is your value proposition and how you get them over the finish line whether it be online in person or a mix of both

The basement is a finished basement and is empty. there’s no kitchen in the basement either.

You can get 50% to 65% LTV on raw unimproved land, or if there are horizontal improvements, you can get 75% LTV to finish out the horizontals.The construction loans will give you 85% to 90% of the LTC or loan to cost, but these will only be done on an individual basis. each lot on its own loan. 

I learned that it takes time to get permit so maybe we finish renovations first, rent it out, and then get permit?