Interesting approach they’re taking, but makes sense with new construction and existing home prices being so close. 

and why i don't agree with those that say a personal home is  a liability.. those liabilities have made me more than 2 mil in tax free gains since i bought my first house in Milpitas in 1978.. for 81k.. and it was new construction Shapell home which bay area folks know they build a nice home.but I like many others have my frugal peccadilloes  i was tearing paper towels in half before they finally got smart and perforated them that way..

Nurses, specialty welders, industrial maintenance, construction crews, etc. 

I have been told that a business degree with a focus on construction management or finance would be better.

Purchase price: $110,000 1st purchase; 3/2 New construction What made you interested in investing in this type of deal?

Now, I need to know the exact usable space, wetland delineation, water & sewer hookup cost, mitigation banking, cleaning up the trees, construction cost as exact as possible.

@Collin Placke if your ARV and construction costs are accurate then it would seem to be a good deal. 

There are a number of other options than traditional bank financing, but really, if you're in this for the long haul and especially if you're looking at this from the perspective of a guy with some understanding of residential construction, you shouldn't try to fight the learning curve from the start with things like BRRRR, 3.5% down-payment FHA loans, all-cash offers with personal loans + cash advances from credit cards, etc.It's complicated enough learning how to run rentals.

And fico is down the list at what my commercial banks look at for multi million dollar loans I get.. those are based on the 3 Cs  Character  Capacity Collateral   and of course experience and length of time with the institution.. now this is for my development and construction loans.. 

Always have a construction crew ready to go!