the last few post are talking about seller subordination.. in a flat market that can work in a stimulated or growing market your going to have a hard time getting a seller to do that.one there are tax implications that need to be thought out by the seller.How we do it is pretty straight forward.last deal went like this.Raw dirt 500k plus 100k to get it to prelim plat  we pay cash for all of that no debt no loan.1 million to improve it to shovel ready... we borrow that in first position.. 23 improved lots appraised for 2,990,000  bank loan 1 mil or  33% of ra dirt.. you can squeeze sometimes and get a bank to go 50%  they did give us the 100k on the first draw for our soft costsnow we get vertical loans of 240 k or so to build the homes  plus 60k for the lots or about 300k.. so new loan for 300k.this loan retires the banks horizontal loan.. and we own the last 5 lots free and clear since we are paying an accelerated  pay down.. houses selling for 450k   so right at a 70% ARV loan on new construction which is about where they like to be.now our loans are a tad higher because we put in 10k fluff and 10k interest reserves.. so as we build out we do not have any monthly payments.. so in theory we got interest reserve on the horizontal loan and we have interest reserve backed into the vertical.. so we did this all with ONLY 600k in cash.. profit a little over 2 million end of the day in about 26 months total.. 

Wha.... the... now how.." me, interupting them -"Look, Bob, it's simple, I know what the property is worth today, and what it's gonna cost to get this thing fixed up into her best "prom dress" to get her to her best selling potential, how long that will take, and I got a decent hunch on where the prices will be then that I am willing to risk, but 3 months, come on Bob, you don't think me soft in the head do you?

There are also DSCR / Commercial lenders who only conduct a soft pull.

Mortgages are different because the object you bought will go up in value over time (even in the soft market we're in right now 15 years from now your house should be worth more).

These are called soft pulls and don't hurt your credit, noone but you sees them.

We are strictly looking for acquisition and soft money costs in the form of mezz/bridge funds for 6-8 months.

Cash out with no seasoning is ok but not up to 80%, more like 75% stated.In the event these lenders dont work out there are some soft money sources that will do 70-75% cash out.

I have all the figures , hard and soft cost, marketing research and builder.

@Tanya Bass I didn't like the materials used in one of the bathrooms.

I know the soft ware that we use Rent Manager has that capability.