I think taking the liquidity makes most sense right now, but I would really value the community's input on the numbers here and strategy.

@David Tiefenthalerthe only low risk, low-money down strategy for a beginner is house hacking.i've done a few seller finance deals with low down payments, but that was after i was well capitalized and already owned several rentals. 

In 2021 you can't build a house of that size and design for $700k.

There are so many strategies out there, it might take some time to determine what works best for your goals.Which brings me to my next point...what are your goals?

Hey Jene, To ensure the viability of your strategy, you'll need to utilize several calculators.

Hi - people certainly do utlize strategies like this - however, as other commentors have noted - DSCR Loans have emerged as an LLC-friendly and short-seasoning-friendly option for BRRRR investors that allow you to do everything by the book and not have to worry about a lot of this.Sharing this article I wrote last year on BiggerPockets on this topic - financing options for BRRRR strategy and pros/cons of eachhttps://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

It's my favorite strategy. 

This will keep you updated on topics, strategies, and areas of interest.2.

The only true way to price new construction is to design the basic plan, then price all the finishes from the least expensive to the most expensive options you would put in. 

Where in Illinois are you looking to get your first deal and what's your strategy?