To me, the market has spoken and there just aren't many people in the area wanting to pay that kind of price for a rental property. 

What kind of loan should i go with assuming it needs repairs?

Supported by peopleI guess I see your, point, the american people have nothing to do with this.  

or any kind of product that will help me tap into the equity of my lot. 

If you are going to self-manage, check out the RPOA for support and information on local and state-wide issues affecting landlords. 

Knowing a ball park figure can help me pick a price I will see if the homeowner will accept because there is alot of needed work)What kind of project planning should I do to make this an efficient project and reduce cost but keep quality?

I try to read books on different kinds of realestate investing and house fliping and I do think that they are useful but the information never seems to have a correct fit.

I think since it's 'new construction' I assume it's way more complicated, and I'm sure it comes with different challenges and factors to consider, but as long as you buy it right, have supporting new construction comps, and are confident with your cost per sf analysis, you can hit your target margin - or close to at least! 

I don't believe it's possible to cover every possible contingency on what can go wrong, but I also don't believe in adding contingencies as I've been around long enough to see people be sued in other arenas for all kinds of dumb stuff that isn't warranted but is allowed. 

She's kind of a high maintenance person to begin with.