Subsequently, I went to Peoples United Bank and got a 4.5% commercial loan with a 25 year amortization, 10 year balloon with a one time renewal option. 

Many are adjusting their draw funding guidelines on the fly.

But I draw the line when there is risk of damage to the property, annoyance to the neighbors, health concerns, pests, etc.

The holes would need to jump through would be getting an architect involve to stamp a set of drawings. 2) We plan on self managing.

If you do 203k loan (FHA renovation loan), you can wrap the reno into the loan, but it is a bit complicated on the back end with the draws to the contactor.You are using a lot of book words that may not go together in real life so you want to start going to meetups in Des Moines and meeting other investors so you can see what they have done.

What this means is that the rehab funds will be held in escrow and you will need to request draws once work has been completed. 

You could do a fix and flip loan where depending on the property you could qualify for up to 90% LTV for the purchase and 100% for the rehab (this is done on draws).

I was also approved for the FSA loan at 1.5% :)Now I am working with a planning and engineering firm to create the concept plans and stamped drawings for the full subdivision.

Yesterday he mentioned that he knows someone who can draw up a contract.

These units also draw a younger crowd who probably just stream anyways.