If you do decide to build, I would work closely with your builder while you're still in the due diligence phase of your land contract and make sure the numbers pencil before closing. 

Stay away from gurus and people who charge you for their “expertise” in the beginning  so much free info out there  Its exciting to see how investors grow in this journey, and I’m sure you’ll build valuable connections along the way- Bigger pockets is a gold mine. 

Happy to try to help you find a connection. 

Do you have funds for your next primary purchase or are you needing to tap into the equity to get closing costs and down payment?

Closing the card would decrease your score. 

We found this property through months of door knocking, post cards, anything to make connections in the neighborhood we wanted to live in.

Contract requires diligent effort from buyer but otherwise doesn't specify if they need to try and close the sale or can just throw their hands up at the low appraisal. 

We installed a Carrier Furnace & Air Conditioner in a house that was under contract but not closed yet.

If they are residential you will have less time from offer acceptance to close usually that in a commercial purchase.

Mike - no experience working with them but I did hear that HF's don't purchase real estate via assignments or double closes.