I'm a part-time CFO (Chief Financial Officer) for real estate developers across the country, most of whom are trying to give back to their communities through their real estate development skills.I'm also a former Director of Lending for a CDFI that lent money to local developers rebuilding LMI and under invested communities. 

The 6% vacancy rate is a good estimate, but local market fluctuations could affect rent.The HML terms (11.95% with 3 points) are high, so ensure a clear timeline for refinancing to minimize interest costs.

Is there anyone in your local market you could take out to lunch who does flips?

For most single-state investors, a local LLC is the practical choice. 

Best bet is to try local and credit unions, possibly may have some programs for better rates.

Have you considered reaching out to local lenders or brokers who specialize in new construction?

I am on the board of CFRI, the local chapter of the National REIA.

I still attend local meet ups and talk to dozens of investors and am considering other strategies like Mid-Term Rentals or rent by the room. 

I would appreciate any and all help.best regards,Jose have you called some local lenders?

Local PM here - we have multiple development projects we are gearing up to sell, both small multifamily and townhouses should you want to take a peak at them.