Bottom line I could not have done it without my partners and the ability to borrow 10 plus million from my commercial bank for SPEC construction loans..  

I would not be able to carry the investment solely with my own finances (hence the partner), so it seems the bank would refuse to lend to me on that basis.Are partnership investments simply limited to commercial loans only? 

Small community banks or credit unions are going to be more flexible in their terms. 

Using a small bank is your best option.

Can anyone guide me on where to find this information on whether it's legal in Texas.Thanks Yes and No.Generally, you can do a Lease Option in Texas that is 6 months or shorter if it has a bank loan on it.

But I wouldn't think it to be a smart move on my part as a beginner to play around with swings in the market and bank on them.

So my offer was bank financing for 70%, seller financing for 20%, and 10% down. 

Not every bank likes development deals, but once you find the right bank they will become your partner in the deal.

I don't know what that score or cash reserves is but give a couple banks a call and you'll be able to get an idea of what is needed for financing. 

can he do a heloc with another bank on the va loan?