You may be able to find local banks that will do construction loans on a single family residence you plan on living in with lower down payment/capital, but not multifamily.To use ball park numbers, I would say $125-175/ft2 is likely the lower end of the market for construction costs in your area, not including land and finance/soft costs.  

I raised private capital to help with soft costs (furniture, TVs, supplies, etc) to get ready for Airbnb and we bank financed the rest.

Also knowns as Preferred Return, but important to know as there is a Soft & Hard Hurdle.Soft Hurdle: A hurdle rate that only applies to a portion of the fund's profits, typically calculated after the preferred return has been achieved.

On the modular side of things, I would say that we were pretty happy that the initial appraisal based on the construction plans showed that we be able to gain some equity upon construction, even after accounting for closing and soft costs.

The sample deal usually gets you soft commitments from investors, that way when you find one you can feel comfortable acting on it.

I got a really good PM and found out  in March/April when the tenant was evicted that "The main level bedroom has cracks along the wall and windows and the subfloor is soft and damaged.

They simply lack all the positive entries that you get from paying a car loan and credit card one time - they simply own their car free and clear and have no credit card..Our soft criteria are: neat and clean, a sense of personal responsibility, easy to talk to, calm and leavel headed - I look at these equally important as the hard criteria you have mentioned.

Keep looking for lenders for sure but beware for lenders doing soft pulls on credit! 

Thanks,Pat Hi Patrick,Just wondering how you intend to "Build relationships" with them.Invite them over for BBQ on Sunday, go hunting, build a NASCAR Replica together, go Bass Fishing?

I've had a few GCs provide soft bids, and I invite other GCs that may come across this thread to contact me if interested.