This all is dependent upon you getting the carpet from HD of course.

@Dan PoratI am looking block by block at the household income and agree with D to C depending on exact address.

We typically buy and hold but it would depend on the numbers for this project, we'd be open to either BRRR or fix and flip so there's a few possibilities.

I have often seen many people love the idea of building, but once they figure out the cost, those ideas change.For reference, here in Chicago, you can expect new builds to be between $200-$275/SF depending on MANY factors...that's just a very rough ballpark!

It really depends on how it’s structured.  

Seller financed (probably) won't be reported to the credit bureaus and so won't impact your credit score at all.

@Adonis Williams, you've received great comments: It depends on so many things, including FICO, LTV, type of loan, etc.

I personally think it really depends on how much value will it add to the property and if the town will allow it. 

 I think it depends on the other terms and obviously its negotiable.

As a CPA, it's very client dependent.