I finally sold it for less than ten cents on the dollar.

Question 1: Whats a good creative way to get them to sell these lots either outright or as a short term investor and can buy them out when the construction loans turns to mortgage?

So what is the final casualty count? 

The 16% ROI includes the loan pay down after year one coming from the amortization schedule along with breaking out other ROI considerations. 

Just a piece of advice if you do elect to pull some cash out is to stay at 60% loan to value. 60% loan to value for most products will get you the best combo of rates/costs on the loan. 

Quote from @Tim Ryan: If he cashes out the equity, he's borrowing money at 7% or higher so that he can invest in real estate with loans at 7% or higher.

Can a person own two homes with two VA loans and refinance one of the homes  into a conventional loan freeing up some of the entitlement which would enable you to buy a 3rd home under the VA loan?

As a lender, what type of lawyer do I go to draft loan documents for me?

If you are looking for a loan product without having to use your personal credit, then a DSCR loan option may be for you.

Purchase price: $110,000 Cash invested: $88,000 Woohoo my project is finally finished and is listed for sale!