Wouldn't hurt to look in to both to give yourself the best chance at finding the best loan product. 

I could be wrong or out of line, but I feel like this is a field where you really need some good expertise/experience to know how to address the variety of crazy situations that will come up.

That’s less about the numbers and more about developing a niche and understanding your product.

You avoid the tax hit, and still get the use of 75% of the equity if you do a cash out refi - (but high interest rates sort of play against that to some degree presently… but you could alway refi again down the line if rates dropped.  

I'm hopeful we can find more productive ways with less red tape in the future outside of LIHTC leveraging technology since standard construction really could use an overhaul.  

We have a commercial 30Y fixed DSCR product that may work for you.

@Dennis KnappJ Scotts book on estimating rehab costs is a great start. https://store.biggerpockets.com/products/the-book-on-estimat...Here is a "general" rule of thumb for my market in Jacksonville, FL.

I was thinking that by giving a single builder rights to build on the land, I would get 1% of each contract price, something along those lines.

Is the property under a high tension power line or down wind from the horse rendering factory or on a main thoroughfare or some other obstruction that you wouldn't want to live near?

Hello,I am a Software Engineer and a Real Estate Investor working on a tech product for the real estate mortgage brokers.