After all, he also was in real estate AND a successful baseball player. 

Quote from @Steven Diaz: Hello,Was going to start construction on a two story 3bd 3.5ba 1500sqft primary home and a 2bd 2.5ba 800sqft ADU.  

.:  Are you talking about creating a first 50% of the note and a second for 50% of the Note and sell the first one? 

The benefit to these is you get your foot into the door without a ton of capital and as time goes you can move out and cashflow on the property.

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

I wish you all success and a long fulfilling journey.

Interest rates between a HEL and a refi are comparable, the equity in the property is equal to the value of the property and I only need about 50% to purchase another property.

And as I explained earlier, your investment is protected by real property, so your risk is extremely low. 

I am looking at 1 acre of land with a well and a septic already installed. 

I’m looking for a GC and a reliable agent to get introduced into the market for potential opportunities.