@Pearly Tan Currently floating around 6% this is a monthly adjustable rate based on the amount drawn for construction, its interest only, balloons in 24 months. 

Extremely good with the floating population, jobs, rapidly growing suburbs, taxes between 1% in Wake county to 1.39% in Durham ( some areas of Durham at 1.6%).

The most wish-listed property in the US for Summer 2022 was the "Glass Treehouse" located Banner Elk (right next to Seven Devils), so definitely an area people have an eye on. 

@Alex Padilla you say you have the cash to float it.

If I need help making up the difference I have a line of credit that floats at prime plus 1%.

So it's only natural that there will be differences of opinion.As a conservative investor, the things that are important to me are factors like full real-estate cycle experience with little to no money lost, high skin in the game, conservative loan to value debt, no floating-rate debt, competitive fees and promotes, no juicing of returns with nonreal estate or junk-grade real estate debt etc.  

I'm in markets where I can put a brand new investor in a deal that will need them to float 40kish all in: down payment, fees, closing costs, holding costs, first in money fronted to contractor (recouped at last draw). 

@Marc Rice We used to hang out in Banner Elk NC...small college there and 2 ski mountains.

What is the cash float?  

Most HELOC loans have a floating interest rate.