Construction cost was $240k and the bank only required 10% down.

So here’s my situation. Currently Renting (Sold a fix n flip a few years ago) looking to buy land with cash (30k or so) and put a new modular home. A couple issues with Credit/income on paper. Without too much detail ...

The provider I am using allows for 60 days of continued coverage once construction. 

Well the bet I'm making here is that CapEx and repairs will be very low the first few years (honestly event he first decade), and once all the construction ends I will be able to increase my rent closer to market rent at $2k which will give me a better cushion.

I've got plenty of experience in both site built and mod construction. 

These are big money plays life changing profits but RISK you bet..

Blacktip Construction Group.

I was broke enough that I couldn't afford rent at my apartment, but fortunately my landlord didn't notice, thanks in part or in whole due to some substance abuse issues.Anyways, when visiting my mom in the neighborhood where I grew up, I had noticed this construction van at a house on our street.

As mentioned before too, newer construction tends to sell at a premium too. 

A borrower is more inclined to face adversity with a construction project than most other types of real estate investing.