Let the builder finance the build and close once the property has CO.  

I cannot overstate the importance of finding a way to build a good rapport with your tenants as early on in the acquisition process as possible, as it will minimize or prevent countless headaches further down the road.When I took over my duplex with an inherited resident in one of the units, I had this conversation with the tenant prior to closing and found out that the toilet in their bathroom was clogging once or twice a week, and their shower head water pressure was super weak. 

I know you say swap, but the swap is accomplished via two sales.

I looked at the HUD limits online (quickly skimmed it) but didn't see any county that was close to the amount.

I use John Morgan with Reality Sales and Management for 2 of the 3.

Purchase price: $9,800,000 Sale price: $16,500,000 built in 2001 this is a great asset. well maintained and nestled in a nice green corner in the path of progress in the inner city loop.great value add. renovating interiors and raising rents over 125$ What made you interested in investing in this type of deal?

If the repairs are sound I would close. 

.- Looking for rental friendly area- Want to be close to the beach / downtown Charleston- I am more interested in Johns Island due to tax dollars being put into that area#1 What does a good Charleston deal look like?

Purchase price: $100,000 Cash invested: $38,000 Sale price: $251,000First fix and flip project.

Also some states do not allow you to seller finance if you have an existing mortgage - others require the sales price to be above the existing loan and cannot mature before the existing loan.Definitely need to get an attorney involved who handles state compliance