Looking to meet up with a contractor in the Norfolk/Va Beach area who has spec duplex models available. Trying to get a rough estimate on cost to assess a potential investor opportunity. ThanksNick

Builder risk?

These are young, able bodied adults and the husband is sitting at home all day.

In practice, it means that they'll decline the loan.Given that land tends to be a lot harder/slower to sell than houses, foreclosure isn't all that attractive for them, so I'd expect them to be pretty conservative.If you're planning a new build, I'd suggest that you have a builder ready to go, complete with building plans including new utilities, access, paving, landscaping, budget, timetable, etc. 

They are offering contracts/grants to builders to rebuild or demolish?

I heard a lot about them a few years ago and saw a good number of builders but it seemed to dwindle.

Was originally all in for about 22k.Cashflow was minimal - more like breaking even.But a few years in I sold the vacant lot next door to a builder for almost 60k.Used that money to pay myself back, pay off the remaining student loans for me and wife, then threw a little bit more at the mortgage in a "streamline refinance" to lower my monthly payment.Rents have increased slowly but surely in that time.

I am looking for a builder in the Fort Myers area.

and took out a $281,000 construction loan with a bank that specialized in owner/builder loans.

Dead body, overdose, tenants fooling around with other tenants spouses, break ins, walking in on an intruder (2x), pet rattlesnakes that escape, water leaks, broken air conditioning, flea infestations and people trying to rip you off.