**Cost-Effective**: Broker opinions of value are typically much less expensive than a full professional appraisal, often costing only $50-$500[1][2][3].2.

This method not only ensures efficient funding during construction but also minimizes interest payments, given that construction loans typically extend over 12-18 months with interest-only payments.After the first year, my expenditures are as follows:Land: $200,000Construction: $600,000Interest: $60,000Total Investment: $880,000Here's where it gets interesting.

Typically most lenders will cap you at a $500k line of credit limit.

What’s the typical income in the area?

Is the back end of the financing always such a drastic risk or is this typically someone looking to cash out quick and leave someone else holding the bag? 

Not all agents will have your best interests in mind so protect yourself.That leap you take to start a change in your life will typically always have some bumps and struggles, working through them is usually where the most rewarding growth happens.Keep us updated how you are moving forward.

I'll just add on to make sure the land you buy doesn't have any fatal flaws before you close on it, i.e. make sure there are no weird things on title, i.e. easements, encroachments, and that all the utilities that you need are there, and it has legal access, etc.

@Cameron Martin WC rates for GC & roofing are typically 20-35% of the total payroll. 

Typically, you have to keep enough margin for both you and the end buyer (assuming its an investor) to make money. 

In my case, at the end of their lease when I wanted to show the property to prospective long term tenants, the tenant gave me all kinds of grief about 'invading her privacy' and 'disrupting her life' even though I told her at the beginning of the lease that this was our procedure and I made every attempt to 1) give 48 hr lead times, when typically I would only give 24, and 2) blocked/scheduled showings for 1 day per week and 1 weekend day away from dinner time/church times, etc. maybe this was just the person I was dealing with though...- vet the tenant exactly as you would for a normal tenant.