You'll need more capital and most will require a personal guarantee and personal financial backing. 

In rural Ohio ponds are required every so many feet when fire hydrants aren't available.

Some folks will use their own cash to add so they don't have a mortgage. 

While downpayment requirements are higher, still a great option. 

good story.. there are so many examples of folks buying worthless land at tax sales.or bidding on seconds at foreclosure sales and thinking it was the first or wiped out the first..

Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

I have 0 experience ground up construction loan program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable. 700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units.

DSCR loans generally require 20-25% down.

Originally posted by @Jack Grove:@Okansa Patrick Were you required to utilize a hard money lender when dealing with New Western?