It’s better to spend a little now than risk costly mistakes later.

I did some research and saw reasonable prices on following neighborhoods, after I read what you wrote I understand that the good prices might have been on the less good side of the neighborhoods but not sure how to check.if you could let me know if it is better to stay away from some of them I would really appreciate It:Mount Washingtonverna- out side of Pittsburgh BrooklineLarimerLincoln PlaceCarnegieWilkinsburgHazelwoodSherade

You want much better returns in real estate you get more creative!  

Texas is a better market IMO.

However I would say those lenders would be more willing than a bank to write the mortgage, and after completion you can refinance it.Overall, its probably easier and better use of your time to just find another house that doesn't require the construction and where the numbers make sense.

If you can buy a fixer in a great area, that's even better.

Rates are also better with these than with an investment loan.There are a couple of investment loan programs available that offer 10% down as well with no PMI, but they have slightly higher rates.

Asking in the correct forum will get a better response.Read the RULES!

Your competition will probably use better or worse assumptions. 

But, the profit margins look to be eye-popping, sometimes on the order of 10X or better.