If you find a good deal you can probably find a hard money lender but they charge an arm and leg sometimes.

I've found some lenders who offer 5/1 arm products with like 5.5% to 6.5% for LLC owned properties. 

@Richard Heck, pulling out equity would be a bonus, but their main priority is locking down a fixed rate - currently they're in an ARM. 

Perhaps a 7/1 or 5/1 ARM during construction with a 3.3% interest rate and then post construction, modify it to a 15 or 30 year fixed mortgage with the original lender or else another one of my choosing. 

He's not armed, and he's nothing I can't handle.   

I would take issue- but I sure as hell wouldn't be in a position to have an appraiser inform me of this- I would have known.If I was the seller I would think the buyer either got cold feet or was trying to strong arm me since we were "engaged" in the deal.

They were homeowners right before the bubble burst, on one of those nasty ARMs and filed bankruptcy. 

Is that a Fixed 1-5 (@4.75%) with an ARM for 25? 

I noticed that no one explicitly mentioned that during my purchase.

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