Regrdless of that degree I got in business with emphasis in real estate I felt more comfortable in construction.  

As a seller's agent, I'm talking to everyone I interface with (with an emphasis on other agents) to find a buyer for the property.  

I operates with a global network of professionals whose local expertise ensures a successful real estate transaction.

Ask your lender about it, and if they dismiss or downplay it, you may be working with someone who isn't compliant-ready or prepared for this global change. 

If that's where you got it from, I think he was mentioning that he runs an "educational seminar" on how to do this (with heavy emphasis on the quotes).It's always possible that I'm missing an unbelievable opportunity, but think it through:1) Why would a seller not investigate how much their land is worth, and and let you lock it up for 15 cents on the dollar?

But I do put more emphasis on CoC.

The lower your credit score, the lower the allowable DTI (debt to income ratio), so that's another consideration.As for private lenders or lenders that don't follow government or agency guidelines, they typically want a much larger down payment 25-30%, and they will put a much lower emphasis on credit.A local mortgage broker is your best source for accessing these types of programs.

Some lenders would let you refi if your global cash flow can support the debt but that requires income from multiple sources (w2 income, other rentals, etc).

One other thing to note is that smaller community banks may lend on character and put less emphasis on your personal income or debt to income ratio.

I recently picked up a copy of Professional Real Estate Development: The ULI Guide to the Business, 3rd Edition and I can't recommend it enough to anyone interested in becoming a real estate developer.It covers:How to get started in real estate developmentHow to analyze deals (market analysis, site selection, feasibility analysis, etc)How to finance deals (JV, commercial, private, syndication, govt programs, etc)Breakdown of how to develop residential, land, commercial, multifamily, officeAnalyzing real estate cyclesIncludes tons of case studies from all kinds of developersI really like the book because it is extremely practical and not just theoretical, even though the underlying rational is very academic in its approach.The book also makes a very strong emphasis on developers engaging the community as it is become more and more important to get community and political buy-in for successful projects.Definitely worth a read.