You'll most likely still have to bring some cash to the deal for reserves and perhaps some soft costs, and any gap between loan amount and construction costs. 

Your soft costs are extremely high.Site development is way over.Have the engineer do a line item estimate to build out. 

Make sure you get a formal term sheet to compare apples to apples, don't accept soft quotes. 5.

That said, I spend about $80 on each turn re-stocking items like paper towels, dish soap, shampoo and the welcome basket I put out.

You also need all kitchen stuff, towels, sheets, etc. 

I know the struggles all to well with those expensive markets.

On top of everything above- keep in mind that with every "head in bed" you need to scale up the number of seats at the dinner table, space/seats living room, towels, plates etc etc.

Getting prequalified is free to do and is normally a "soft" credit check...so there's no downside to getting prequalified. 

There are a couple newer companies charging something like 18% but they make the owners purchase their own supplies (TP, paper towels, toiletries, etc) and have all kinds of "additional fees" that seem to put them in about the same range when you take everything in to account.

Also another good tactic is offering to let them use supplies like toilet paper, paper towels, and whatnot.