I hope this is a help and if you need any help with financing options feel free to DM me.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

Feel Free to send me a DM. 

Hey @Tori Rhodes - As a builder myself here in Chicago that is a question I hear often.Before looking into your loan options, I'd look long and hard at the cost of land and construction in your Grand Rapids area. 

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I assume the first house hasn’t appreciate much if at all and that’s why you didn’t sell it and take the tax free gain that could take 10+ years to overcome as a rental?

Lost $3k in the initial cost. 

To be brutally honest i don't care if it's at cost, below or above, I only care what it is exactly and how much. 

Don't forget, you’re going to be out 10%+ in closing costs so you’ll walk with zero cash and pin your hopes on them paying you 20-30 years from now if that’s all they put down. 

Even still, it could be said that I've still lost money due to my time on the tools instead of prospecting as a real estate agent (the cost of lost opportunity).If you can truly do 80%-90% of the work yourself (at acceptable quality levels) and you aren't sacrificing your time where you can get better returns for your efforts, then yes, it can work even up here in Canada.