@Chanel Snerling not sure why you are so focused on building?

Hopefully you have a better streamlined build on the next one.

This thought led me into studying about becoming financially free and building generational wealth.

Buy a lot and build a house for sale in 2026.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

When the whole covid shutdown occurred, I dropped out of college to help my father's service business maintaining and remodeling residential and commercial buildings.

Dwelling (Building coverage)The limit should be based on the Replacement Cost of the building (cost to rebuild withthe same kind and quality excluding the foundation)2.

It makes sense for your new build but you'll have leverage something (fixed rate) to get out of that loan. 

I'd bring island out a little more. my advice is make sure all rooms are 110 sq ft minimum. some of these look super small. we build a very similar one in our market.

Fix-and-flips and new builds are always exciting!