@Alan Grobmeier  you will love this from your perspective.I bid on a 40 unit section 8 project in Hattisburg MS.. a few years back ( did not get it)but the builder was brilliant he built these for his style of tenant  Block construction painted on the inside and out.. concrete floors... and industrial grade doors and hinges... floor sloped alittle to a main drain in the middle... concrete counter tops  etc etc.so when tenant went out  high pressure hose came in and cleaned it all out  LOL.. you take little homes in the mid west that are lath and plaster or sheet rock with carpets and you will be spending a ton of money on turn over.my new construction I bought in MS were all stained concrete floors... only carpet in bed rooms.

Quote from @Adam Bartomeo: Quote from @Jay Hinrichs: U also are fighting all the investor who flooded int to build new homes for rental purposes so OVER supply.. and we know a ton of those got stuck with bad builders and are being worked out so supply is going to keep coming in ..

Those type deals can be found when builders are trying to close as many deals as possible before Jan. 

Does the builder have any incentives to work with their chosen lender?

There is very little surprise maintenance cost and the builder can get rates that are way below the secondary marketWe have an off market inventory of new construction properties in a number of areas that fit the goals of many investors.  

They let the builder take on the construction financing and just are able to come in with the end financing.  

So my question is I would do a land lease to the builder.

Do you have a builders risk and general liability policy?  

They are in partnership with Obie for Fix & Flip type insurance (builders risk, etc).  

I have a small residential interior design business serving home builders and residential contractors in Northern VA.