We came to an arrangement where any sale price over $1 million, minus construction costs, would result in a profit-sharing opportunity.I’m currently trying to determine the After Repair Value (ARV) for the property but am having difficulty finding reliable comparables.

Can you carry the property for the construction period?

We also work with 203K construction loans which NEVER give a deposit. 

I doubt that any serious lender is going to lend you construction funds in second position behind your mom's purchase-money lien on a distressed property.

I'd suggest making sure to get a good GC/construction company for repairs.

Once I have that I will exit my bridge loan to a construction loan. 

Nashville, Dallas and the south are being the hardest right now because of the new construction, but in my opinion, these could be some of the best opportunities for investing in the coming years.

A HELOC offers flexibility and lower interest rates, which can be ideal if you’re looking for short-term financing with lower payments during construction.

I am a teacher and my husband works in construction. 

A lot more important compared to newer construction homes where you don't have to deal with certain things when it comes to either of those.Many other nuances but those are just a few that come to mind.