I'll provide some tips below.2.

The mega backdoor roth sounds great in practice, but in real life situations I've never actually recommended it to anyone. 

Then, you could refinance into a conventional mortgage once the home is built.Would you like any recommendations for lenders open to working with owner-builders?

Some will follow staff recommendations almost all the time .. others will not..

For lenders, I have access to private money lenders or if you want to go the traditional route, I recommend checking out Coast to Coast - Jeff Weller. 

What if this lender they recommend is not ethical?

I would recommend finding a investor focused real estate agent or some wholesalers that focus on the areas you are looking

Originally posted by @David Hines:I would recommend checking their comps and repair values very closely.

I could write an essay on why, but as someone who manages nearly 1,000 doors up and down the I-25 corridor, I can tell you these are not the investment vehicles I recommend to my clients and they are not what I personally would ever own. 

What are the watch outs or steps that you recommend?