I'd also be weary of any realtor who tells you it's not an issue.

Am I correct in my understanding that after the house is built and a CO is issued, we can work with a traditional bank/lender to get the new home appraised and take out a traditional mortgage on the home for XX amount (the amount owed to HELOC and hard money lender)? 

Asking the sellers to repair the whole roof is quite common, sometimes their insurance company will repair it for them!

Managing multiple properties does come with its own set of challenges, like juggling different maintenance issues, taxes, and possibly even varying market conditions if they're not all in the same area.Here's where your financial goals come into play: Are you looking for a more hands-on investment with potentially higher cash flow from the get-go?

The only issue I have with Dynasty is it has a lower per square foot coverage than the others, but I guess if you want something to last a long time its all about having a good "Mill Thickness" anyhow. 

In my area it is common to have those foundations, I always see water damage when it is.

With option 3, if I waited a year between lot sales, would that satisfy any timeline or intent issues?

The more we can share ideas that we come across the more it will allow ourselves and others to creatively put deals together that solve systemic issues.

Now the land is not worth nearly as much as the collateral the bank issued their loan on.  

I believe the water issue is coming from a leaking hot water tank and moisture from a leaking sink that was never fixed.