It only comes in to play if you ever sell without an exchange before dying. 

@Justin Segarrayou got great responses about screening so i want to respond to something else you posted"fear is not being able to find good tenants in a reasonable time frame"homeownership and investing is a very, very long term play and it is absolutely worth it to WAIT for good tenants. 

Basically, there are a lot of options and variations but you should be specifically seeking a construction loan and from there its really up to you to decide what is the best option.

The appraisal is usually issued for the benefit of the lender so you can play hardball and share that the lender will not release a copy of the report until after settlement (which does happen in some instances depending on the lender and their policies).

If you can find a very similar property (properties) within a few blocks that is golden....but you will find that often there will be few, or sometimes none, within a close proximity.This is when your talent will come into play.

Are people just doing the appreciation play these days?  

After doing this, I then run the property through Airdna.co and/or Mashvisor.com  Both of these tools will give you projections of what type of rental rates, price per night, bookings, occupancy, seasonal variations, etc. 

@Darrcelle McGinnis wow, I should play the lottery today:)Couple of thoughts:1) Don't burn a bridge with the contractor friend.

Jack Bosch and a lot of the land flipper guys who teach it like to have their students buying in the high deserts and remote areas of the Western US  or in FLA like le High Acres etc. this is were cheap land is and land that gets traded constantly at tax sales.. the play for most of them is really simple.buy at tax sale or with direct mail.. for a few grand  re-market them for more and sell on terms and collect monthly payments.. 

I wonder if these are like pay day loans super high interest.. does anyone know what the interest rate is.. that could be the play.. be the lender on these deals :)