Lenders can have different loan options based on the property type and the amount of rehab (if any) required for the project. 

For the contractors, there are always going to be ones that have you already saying yes to stuff and will just continue to send crazy change orders, and when they do that is when you stop the project and go elsewhere. 

I recently moved to the DFW area and want to get involved in real estate in the near future (looking to buy a property in the next 6 months to a year).

The best thing you can do to prevent future foundation issues is installing gutters around the property to repel away from the foundation.

Be very careful with this as a first time project! 

The great part about contacting the CDC directly (and a large one such as TMC) is they can make referrals to banks that would be interested in your project (i.e. banks that have been actively doing SBA hotel loans)...rather than you having to chase down the bank first, which can be very difficult.Regular commercial lending requirements are applicable (will vary by bank):1 - no bankruptcies2 - no foreclosures3 - FICO > 7004 - net worth >= loan amount5 - post closing liquidity >= 12 months of P&IIf this works out, you are going to be glad that you made this post.

A development project can have a very nice upside if done right. 

My area is relatively low crime, but had one place that someone broke a window to get in.... probably a homeless guy looking for a place to sleep....got scared when neighbor turned light on.I put in a SimpliSafe unit... portable, easy to set up, multiple options- you can use a webcam and get alerts on your phone and future tenant can pay for full service if they want. 

@Guifre Morai am searching for a HELOC or refi so I have some capital to take advantage of any future deals, sounds like HELOCs have been frozen, anyone have any info.

With conventional financing becoming more restrictive, real estate investors may turn to hard money loans for acquisitions and rehab projects.