It makes sense for your new build but you'll have leverage something (fixed rate) to get out of that loan. 

Not good I think its a good tool for fix and flip and short term holds but not for long term holds if you have not ability to refi or enough equity to sell quickly even if you do and the sellers loan gets called they are still going to get their credit trashed. . 

First when I bought them and "fixed them up" and then 10 years later when I had a little better understanding and started doing things the right way.

Lenders often consider the whole picture, so keep building that credit but don't let it hold you back from exploring options.Since you're considering a trailer to fix up, have you thought about markets like East Phoenix or the outskirts of Austin?

I'm also a licensed mortgage broker with a lot of fix-and-flip programs, including some that require as little as 10% down on the purchase price, and provide 100% of the rehab funding.

Other than your payment is NOT fixed, the "charge" for it all is NOT known or set...... 

The training is pretty thorough focused on lending hard/private money to other fix and flip investors, or for my own deals for which I could pay myself as the loan broker.

His goal is to get as much out of the property as possible and give me an opportunity to do my first fix and flip.

We currently have fixed interest rate at 2.85 on one home and 3.25% on the other 

The PM will also fix things when needed, using local handymen or contractors, and collect the rent for you.