For a house that is worth considerably less than the cost to rebuild you probably want to look at a ACV (actual cash value) policy.  

If the cost to rebuild is higher than the ARV, buying for land is probably not a good investment, as you would be better off just doing a new existing construction deal.The other side of this issue, of course, is whether or not you can divide the land into two separate parcels.

I think there's a way to rebuild your credit but you can probably learn from Dave Ramsey how to do that.

The stock market, real estate, and the rest of life can crash around you but it's your knowledge, development, and mindset that help you handle it and can build or rebuild anything.

Second, living outside of the US for almost 9 years means our credit was dormant and it took a year to rebuild it.We used the proceeds from our home sale to fund the first 2 properties we are doing.

You are looking to help those borrowers rebuild their life.

Hence why people sleep more when they work out- their bodies need to rebuild that muscle.

I own a couple properties, am rebuilding a midcentury modern home and will continue to fortify my real estate portfolio; mostly longer holds. 

Sometimes owners are willing to finance for a year or two while a potential new owner or lease option buyer is put into place while they build or rebuild their credit.

Someone in charge up there has iron hands that simply pound red tapes and politics to rebuild better ones.