(no mortgage) You may be able to get a short term rehab loan for the property.

I would be purchasing with an FHA loan, how do i assess if the deal is worth it?

Don’t forget ROI includes debt pay down so it has to include the principle portion of the loan payment as ROI, I don’t see that listed?

There's < 2 months of seasoning for the purchase, cash into the deal is ~$975k w/o rehab (minimal planned so far - turnkey), purchased the property for 35-40% below assessed value, 825+ FICO, and would optimally like to pull out $975K-$1.15M of equity.Main scenarios we've thought of to accomplish this are: 1) structure sale of property from SMLLC to self and secure 30-year new purchase financing on deal (unsure if legal and tax implications if above initial cost basis)2) delayed financing (LTV restrictions a concern)3) cash out refi (seasoning concerns)4) DSCR (seasoning and rate competitiveness concerns)5) one of the above plus a HELOC, personal loan, etc.?

I am financing with a conventional loan.

Drafted a plan, gathered estimates, created a budget, put together DTI sheets, even got an "as-built" appraisal, and also have it in a permit status at the Local Building and safety office.Then I started to look into the construction loan and the permanent financing....to do it myself, and not through a builder.I soon realized that there are sooo many companies out there that want to try to help...but cant  (some of them were even on this network of people):  don't have builds on record, won't allow for owner-built homes, my credit is less than 680, while carrying the construction loan, there may be a point at the end where because i have my rental house while building that it become hard to pay, and  I can't pull out a private loan to help start process because my credit cards balances are horrible...and my "business" has no show of income.So, now we are here in the present time....   

You are not alone in that situation as you can see a lot of online comments about people having the same issue.

Just keep in mind if you have a current VA loan it does take away from your Max loan amount based on the entitlement you have left over from the first.

Purchase price: $65,000 Cash invested: $235,000 We are thrilled to announce that we have secured a construction loan from BackFlip to complete our project: the construction of a single-family residence (SFR) on the beautiful West Coast of Florida!

I am 18 and going into my second year of college this fall and a full time student but my schedule is not too jammed with classes because I am part online.