I’ve done some research and have found that some banks will allow the seller finance portion from the seller to go towards the down payment of the loan, is that true?

We're in a small town so we ask our bank loan officer who is involved in the community for a CPA reference.

I'm doubting you teach "real estate", meaning from A to Z, I'd even go along if someone didn't teach about links and chains or that a lot line can be from the center of a river not the banks of the river. 

However those with no to very limited experience will never get a fix and flip loan  from a bank. 4.

Of course the OP received the funds but the point I would argue is that if the OP received in Jan and not Dec in his bank account.

Not sexy as Lexington but bank account is the ultimate measure of success

That first deal after a break can feel like a big leap, but it sounds like a great opportunity.On financing, seller financing, private lenders, or portfolio loans from local banks could be worth exploring if you want alternatives to hard money.Excited to see how this deal goes for you.

However I would say those lenders would be more willing than a bank to write the mortgage, and after completion you can refinance it.Overall, its probably easier and better use of your time to just find another house that doesn't require the construction and where the numbers make sense.

Quote from @Brandon Croucier: 12 or 24 Month Bank Statement is probably the best bet.Where would I get one of those? 

Make sure you know where the guard rails are with your bank.