I’m set to close on a property in early August and am trying to make sure I’ve got all the correct paperwork/wording to make it all legit.

You don't have to spend money  out of the pocket on searching Redfin, making some phone calls, making offers and posting ads on Craiglist or whatever local media you want to use to sell the property.

You should be able to take out a small loan using the property as collateral.

I have a unique deal that the property owner is just wanting the builder to build him a home for "free" and he will sign over the land.

It isn't easy, but you'll learn a lot about underwriting from the process and know the ins and outs of the entire model, which makes using it, troubleshooting it, and adding to it much easier.

@Jose Saladin you will likely not get a CO (certificate of occupancy) to be able to legally rent this out.

So for $120 I went from 2 years to 7.  

I don’t know how easy it would be for you to contact every resident and ask that nobody use any water at a certain time for 10 minutes.

Dont have to use a heloc per se.

There's no statutory or common law basis to force the builder to provide plans.