@Chanel Snerling not sure why you are so focused on building?

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

When the whole covid shutdown occurred, I dropped out of college to help my father's service business maintaining and remodeling residential and commercial buildings.

If this is your first property, you could consider starting with a smaller apartment building and going after the opportunity first, and the property as a secondary consideration.

Hopefully you have a better streamlined build on the next one.

There is no way I can build this and come out overall profitable.

The current rents are really low because the tenants are responsible for doing any and all repairs on their buildings (which in my opinion contributes to the poor condition of the buildings). 

To all those stress I had to go through during this process the only consoling factor is the judgment amount I got through the Justice of the Peace Court.

It makes sense for your new build but you'll have leverage something (fixed rate) to get out of that loan. 

I am excited to start building my portfolio and learning all I can.