That looks like a guesstimate of 20k to me just from the shape of it and expectations of worn out mechanicals as well.

I have a "life insurance 101" that gets into the mechanics of life insurance policies...https://www.biggerpockets.com/...

You can get better tenants and they should be the first neighborhoods to gentrify from Class C to Class B:)There will still be breakins and tenant-caused damages, with bad tenants even stealing the mechanicals when they move out.

In Raleigh some that may be worth calling are Providence Bank, Mechanics & Farmers, Paragon, North State. 

But, I'm a mechanical engineer by trade and am not afraid of digging into the details to figure out if it's viable. ;)

My Dad is also a licensed residential builder, licensed Master Electrician, and licensed Mechanical Contractor in the state of Michigan.

I will think of a couple titles but I would actually go outside of the mechanics of CRE and focus more on prospecting and sales or you will just be a really great analyst working for a producer.   

Additionally, since this project is already in flight, you run the risk of mechanic liens taking priority over your loan as they can backdate the lien to when work commenced. 

I guess your risk is losing the land if the construction loan defaults, or perhaps being dragged into any mechanic's liens from subcontractors, but hopefully you can figure out a way up front to be indemnified on that.

Mechanically speaking, that whole process is what a title company provides, and it definitely simplifies things (and generally provides better assurance of a good outcome) to use a title company whenever possibly.