second @J Scott  thought process here.. completely different animal from rehab.the GC will and is Key to your success. along with how are you going to finance it.. spec loans are not rehab loans.. very small niche and generally not available to first timers..now owner builder move into the home there are plenty of those loan products out there from local banks usually.I think moving into new construction is a progression... myself it was as a lender in possession IE I foreclosed on would be builders who went busto .. and I HAD to finish the projects as I was the money.... 

Part of my application asks them what construction skills they possess.

Control the property with a simple contract of sale, right of possession and right to market the property and assignment rights and delayed settlement techniques, make sure you put a clause in the skinny contract of sale that lets you out if you can't assign the building.Schedule a public auction. 

It's a numbers game. 98% of agents are worthless from an investor perspective so you just have to keep hunting for the good ones who possess a little business sense and investment knowledge.One thing that always fascinates me is just how few agents invest in any form of real estate.

Handing over keys is generally considered the legal transfer of possession.

Until the estate in settled, they can't have possession of that money anyway; it has to stay with the estate.If they insist on some type of a small deposit, mine is always $100 or less, and I make that check payable to the closing attorney; never to them.

Then there are no surprises after you take possession.

So, they would have their possessions in the house.

Just not sure you're aware of that if you're planning open houses already, as I think if there are any issues, it can delay your possession date.

The agreement had to state that a Writ of Possession could be filed if the tenant defaulted on the terms!