So if your end product is 40k  lets break it down.. not a sales pitch or what you want to hear.your turn key company or provider is going to want to make at least 10k.. that's common in the industry.. that leaves 30k to do all this... your contractor putting it all together wants to make 3 to 5k.. so that leaves say 25k to put it all together.to have a sustainable rental.. you need New mechanicals new roof.. sewer scoped and replaced if needed up graded plumbing and electrical.. new paint and flooring.. cabinets and appliances and hot water heater.. this all cost at least 15 to 20k.. leaving you to pay 5k for the asset...

Once they have the product to sell, and they open doors....we're in business.

You are running a business selling a product. 

Is there anything productive that you could do in the meantime with the dirt to produce some income?

Just curious is all, it might be worth bringing some cash to the refi table if you're close to having 20% equity in your current home.By the way what type of loan product are you using to purchase your new primary residence?

However, if you pull the permits as the "owner/contractor" you are responsible for the finished product. 

RealProtect.com has a lot of different products and work nationwide.

Both products are vinyl and don't care about water.

Make sure the product is "sag" and "mold" resistant. 

Ordinarily I don't bother with CDs as their interest rates aren't enough to justify locking up my money, but I have my emergency fund in this product as the cash is still accessible w/o penalty, and rates are as good as most standard CDs.