80% LTC is standard on ground-up construction, if they are using an experienced builder, have decent credit & the after-build value is sufficient, it should be a fairly straight-forward loan.The main problem I see with non-experienced builders trying to build is lack of funds, they will need 20% of project cost + Closing Costs + 6 months reserves.

Don't want to pay tax on selling the rentals I unfortunately don't think they actually want to utilize the 121 to sell their existing primary and then potentially buy another one-it sounds like the goal is to ultimately continue owing that initial home which I think makes this whole plan 5x more likely to be torn apart under audit because they're trying to end up with the same property they started with.  

Of course they are also trying to "launch loan fund". 

This can save months of headache in MA trying to evict 

A company adding more options to a plan instead of trying to Nickle and Dime me with upsells.

I would be shocked if your tenant tried to move with an increase of 100 bucks or less, due to the fact of limited supply for similar size and type for under 1100 a month. 

You can also try Best Buy clearance or returns online.

We also try to keep a few hundred thousand in reserves.  

The fund that Scott sold me has very poor directors (fat cats that are very rich and sleep in all day) the ceo is trying to manage 8 properties all over USA  I dont know this fund but I do know Scott and have been to some of his training events and met many folks who took his training and a few of them I have followed over the years and they have built monstor business's  really something..

What are you trying to sell?