Even though interest rates and terms won't be as desirable as conventional, you'll have an easier time getting pre-approved.

My townhome development in WA was under 200k for 18-units to get full building and civil permits.So hypothetically, if you think it's worth 100k per door at preliminary approval before utilities and improvements maybe it'd be worth paying 50-60k per lot.

@Jessica Heller- contact  several  lenders on the  same  day - provide them  with the  same criteria -  get  some  quotes and ask the  questions you have  ...compare the date and the feedback received and then make a  decison on  starting the pre approval process 

@Ben Azubuike it's technically too late to add anything else if you've already signed a purchase contract.You can try to negotiate with the seller for review of:LeaseRent LedgerTenant approval criteriaAt closing you also want acceptable copies of tenant's: DL, SSN, paystub, bank statement, phone & email.

Buying your primary home first allows for stability before investments, but may require higher down payments and stricter approval criteria.

@Karan SinghTo build a solid real estate foundation, prioritize wise time management, early pre-approval, early credit building, real estate partnerships, income diversification, networking, and learning from books and podcasts.

These may all have to be mapped and approved by the agency, authority, having jurisdiction.

The lender approved it no problem with 20% down. 

Mortgage Liability: Since your name is on the mortgage, removing yourself from liability usually requires the lender’s approval.

By renovating the entire house, gutting everything, fully renovating the pool, and with approved ADU plans.