@Ravi KaruturiRavi, a Project with a $10M “all in” cost will typically support a 70%-80% loan to cost (LTC).This means that you can borrow $7M-$8M which means that you will have to invest an equity infusion of $3M-$2M.More fundamentally, if you are asking a question like this, your priorities need adjusting.Raising capital from whomever, and especially from friends and family must come after you have acquired and can demonstrate the skills necessary to build a $10M ground up development.I believe that if you pursue a plan to raise the equity required that you will find it very difficult to secure bank debt without a track record and or the skills noted above.Feel free to reach out to me if you want to talk.

Unless the law or the lease requires the notice to be paper mailed, I don't see any way it would be ruled in your favor.

Regarding Mecklenburg (Charlotte) specifically, many HOAs have rental restrictions (such as a minimal lease requirement), which can make STR tricky. 

@Shane DuncanIf you are willing to move into the property for a period, you can try to look into primary residence loans such as FHA which have a 3.5% down payment requirement.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain. 

Value adds (even sophisticated value adds) require effort.

what state is the property in and what is it.. is it 1 to 4 units.. the website shows no licenes so there are 12 or so states that licenses are required for 1 to 4 unit no matter owner occ or not.

They may also take into account the income potential of the 4plex once it is completed.It's important to speak with a lender who has experience with construction loans to fully understand the process and requirements.

The buyers agent will have you sign the form that clearly states what they require for commission.

Loan Options: Utilizing an FHA loan is helpful since it requires little down.