Having developed a majority of my career in CA the regulations and red tape for construction and development are intense. 

Interesting about the wind-down structure, I'll look into that more. some existing HMLs that don't have cooperating banks right now and probably would be glad to have it.  

We try hard to follow the regulations, including the Dodd Frank Act.

But everyone in this thread keeps saying cash flow over and over.To summarize:-Old/older midwest properties in good neighborhoods that you will hold for 25+ years: good investments-Cash flow on such properties: non-existent for the first 5-10-15 yearsYes?! 

I continue to affirm that no agreement between me and estate legal exist, as there was no meeting of the minds, which is required for a legal contract inder NC State Law.I furthermore had rescinded my offer to enter into said contract with them due to this lack of the meeting of the minds.I continue to request a full refund. 

This is generally why nonqm like dscr exists.

They could work with an existing lender, do some marketing to help broker, get a cut and make FARRRR more $ with zero risk vs this EMD lending. 

They’ll check if your property, zoned R5, allows a curb cut and ensure it meets zoning regulations.

I'm thinking of selling my personal residence on a wrap, but I wanted to see what you thought about these approximate numbers (rounded for simplicity):$140k sales price$30k down payment from buyer$95k owed on my existing mortgage @ 4.875%$550 P&I monthly payment ($650 w/ taxes and insurance)Seller finance the $110k left w/ a wrap w/ a 3 year balloon.

Being new I would suggest started with existing builds but building small multifamily in a small town with a rental shortage could be a smart move (someone's gotta do it).