Apparently the builder put a kitchen cabinet screw through the wall and through the AC drain pipe. 

Also look at your suppliers to source materials via Contractor/Builder discounts, which can improve the bang on your buck.Mike

I loved that business.. chasing court house steps foreclosures for a number of years was exciting but LOTS OF work and lots of deals that never come together.HML in when its good is good.. and in the last 8 years or so as we became an accidental builder  that's been challenging and fun and basically very rewarding on certain projects.. some not so much.Stacking up a couple hundred C D class rentals while nice for tax etc.. was the thing i liked the very least and i exited 5 plus years ago..  

Lots are pretty easy to move, but a few of the things you  will want to know is zoning, are there utilities on site already, is the lot hooked into city sewer or does it have septic, any code violations/liens, is it in an HOA that may require a minimum sqft house to be built or use a specific builder.

I do the opposite whatever body else does.

Edit: A quick edit here, when I originally viewed your post, only the title appeared, with no body post, so I missed all your details.

So, I found a "house" that is just a basement with windows, and maybe a walk out from the back? Can't tell, haven't gone to the lot yet, in the assessment it still show up as a 1.5 story SFH with a basement, so that's...

Although they don't hit the 1% rule, having a 2/10 builders warranty should reduce your R&M considerably.

Definitely find out if the builder offers a warranty or your state gives a warranty by law (you'll need to speak with a local attorney if you need advice on this).  

Within this time frame you are required to carry out the relevant conditions of the sale (ie Builder's Report, Valuation Report, Finance etc)Firstly, what conditions would I have to put to be able to carry out things like Builder's and Valuation Reports during the conditional period or will I be able to carry out those reports regardless of the conditions?