Deposits from the tenant.Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution lawfully doing business in this State or the landlord may, at his option, furnish a bond from an insurance company licensed to do business in North Carolina.

Are there any institutions or other loan products that offer 3.5% down (potentially can go up to 10% depending on the total construction costs) AND takes into account the rental income?

He wanted me to paypal him 750 so that he would send the 20k needed to bridge the gap in the loan.While Facebook can be great to connect with institutional loan officers, mortgage brokers, etc.., true private money is a little more difficult in my humble opinion.

If you can't tell it's a royal pain!

No lending institution or bank would be permitted to operate with those ratios.

I would be amazed, shocked even, if a traditional financial institution was willing to lend on a non-habitable asset up to 80%. 

Our dollar is losing value so you need to be with a solid operator in institutional assets that cashflow in markets while hedging inflation with tax benefits. 

.—(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants.

If she's still there, institute your holdover policy. 

I will say that communication with OpenDoor is much better than that of other institutional sellers I've worked with.