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.

I was interested in something like owning a rental property as a way to generate some additional income. 

I'll just add that in addition to offsetting future tax liability, I'd like to offset current taxes as well, during my highest earning years. 

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

From a tax standpoint, there are additional disclosures to make when selling a business asset for less than fair market value to a related third party. 

Additionally, I created MEC (Material Estimator Calculator), a unique residential renovation software that automatically calculates a bill of materials (BOM) based on the property’s condition.Overall, I’m thrilled to escape the Seattle rain and connect with fellow investors here in Arizona.

With one successful flip under my belt, I'm eager to connect with fellow investors and expand my knowledge and network in this vibrant real estate market.In addition to my passion for real estate, I’m also a skilled electrician.

I should add it will be a short term rental property. 

States Can Still Require Additional FilingsEven though 506(b) offerings are exempt from state registration, individual states can still require notice filings and fees.

Additionally, lenders may require a release price (a specific amount to pay down the loan) for each property sold, which can complicate the strategy.It’s worth discussing these details with a trusted lender or mortgage broker to ensure the plan aligns with the loan’s terms.