If you focus on that first, the cost of construction will work out.

It flipped the market from a seller's market (offering $30k over asking to get your offer looked at) to more of a buyer's market where we can now negotiate with sellers, work out seller financing, or get deals under market value.

If I play my cards right and take action judiciously, I know it can work out.

A lot of them would probably work out great, but ultimately you need to do what works for you.I am a property manager here on the Big Island in Kona.

For example, maybe think about a provision that gives you a way out of the contract if you cannot work out a short sale with the bank for $X.

Maybe it would work out. 

You build a solid reputation as a deal closer, vs someone who bails when their portion of the deal doesn't work out. 

This can be used at 100% assuming the numbers work out. 

If the real estate doesn't work out then you can apply what you learn someplace else.

If this loan were to work out, it would be a construction to permanent single loan.