The next deals came much easier as my confidence grew. 

I am guessing they probably raised $15-25M from investors for the deal, so while the bank would still be covered investors would appear to collect maybe 10-20 cents on the dollar if they were to liquidate.if that's the case then I don't see buying one year really does anything unless I am missing something ? 

If you want to run your investment like a business you 100% need to establish a solid screening process that makes placing tenants in the future easier.

But if they just said that they wouldn’t appear unique.  

Makes it much easier. 

It has come up quite a bit, still is a bit dangerous but appears to have plenty of room for improvement and appreciation.

Of course, live wherever you want, if you see that storms are becoming difficult, it is easier to sell one home and move.

However I would say those lenders would be more willing than a bank to write the mortgage, and after completion you can refinance it.Overall, its probably easier and better use of your time to just find another house that doesn't require the construction and where the numbers make sense.

If you had prescreening info that makes it appear that there is no way they meet criteria do you still say the same thing? 

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.