Don't forget you need the original developer's permission to conduct structural changes to the villa inside and out.

For example: Treasury may want to incentivize Freddie to refocus on regional, small lending products to reinvigorate smaller homebuilders/developers.

Here are a few high level thoughts for you as a beginner:-Don't lend in second position-Don't do deals with new investors-Don't experiment with new strategies, even with experiences investors- ie, don't jump in to a first development project with someone just because they've flipped 20 houses. 

.- Both Sterling and Bank of Marin offer financing to TIC developers for acquisition and renovation of buildings that will then be converted and sold as tenancy in common.

we are setting up two OZ funds and would love to talk about what you've found. one is for land development and is more active the other is passive real estate ownership of extended stay. all are ground up. 

This can put a significant strain on your finances and cash flowThey also often require a large down payment themselves and may have a strict repayment schedule that can be difficult to meet, especially if there are unforeseen circumstances or delays in renting the property or generating income from itIn addition, relying on this type of loan may expose you to higher financial stress and the possibility of default if you are unable to meet your loan obligationsThe final decision depends on your overall financial situation, risk tolerance, and your ability to manage the associated costs and obligations

One of the developers I work close with is getting ready to build 4 spec houses.

I work with several real estate developers across the country and they all do it differently.My suggestion is to find a property type and an area/neighborhood/city/market that you are drawn to and plot your course from there.As for the amount of money you'll need, it's gonna be mostly driven off the purchase price of the property.

I'd build up and go for at least 2 units but 3 stories is better. 3 story walk up apartments account for almost 65% of apartment developments round he country. this is what I'd recommend on your lot. this is 35' tall and we do it in columbus oh 

Happy to help with development, syndication or Boise specific info.