Without knowing too much about the specific market (although it does appear Monterey and Santa Cruz are holding pretty strong) it may be worthwhile to consider selling if values are holding. 

Does anyone know if they release the house after they finish selling or building the remaining homes? 

For a few reasons, we want to deny this request, but wanted to know how binding our denial would be. 

I know Fannie/Freddie changed the guidelines for a cash-out refi to 12 months, but I'm seeing something called a no cash-out refi/limited cash-out refi.

My PMS already has this built in and I know many others are working on the same idea.

We've been educating ourselves on creative financing and Subto and would like to know if there are recommended professionals in the DFW/ Texas area who are experts on structuring a creative deal who can essentially advise us and take care of the process for us. 

Your PM might be a good choice - at least they have market familiarity and will know some contractors. 

I don’t know what this means so not very helpful.

I'm deliberating whether I should hire my neighbor (he just had leg surgery and walking with a cane) across the street to do construction because if the construction turns out bad, I strain the relationship with the neighbor across the street, and also whether I should hire my neighbor from another place who does the design because I kinda don't prefer he knows where I live (just because if the design turns out bad, I strain another relationship with him and exposes my address of where I live).

How do I know if the potential property is in the area that does not have 15% of total homes on the block as STR?