When you learn you take action when you take action you make money...

Regardless of your FICO, you will need cash money to be able to invest in holdable real estate.  

But I think that would money down the drain.

Not only are they trying to watch out for there safety, but hey they are bringing up a very valid reason of up keep on your property just as if you had an appliance fail, you go fix it, but only this situation is more reason to give you more service/money made/good review if you show that you give somewhat of a care in the world if the people that are paying your bills are in good hands.

Or are you looking to raise money for the down payment? 

Time is exchanged for money. 

Banks only have 10% of the money they lend thus it makes sense for them - but for people who are not a bank why make 6% taxes as ordinary income and barely keeping up with inflationThat $1000/mo payment will be worthless in 20 years.

@Ethan Piani having that much money at 24 saved up is amazing!

Can these be tax write offs (home office, phone, car expenses, etc) even though I won't technically be making money for some time until everything is completely built and leased?

You have bills to pay and if they promise you your money by a certain time each month, then you should be getting it.