@Brandon Cravens Anyhow, we are watching the markets closely and so are our lenders and bankers. 

When the loan amounts became smaller, their mortgage banker said you should talk to the branch president about some commercial/ portfolio loans.

Have you talked to a banker to see how much they would loan for construction, given your current equity position in the property?

They should also seek advice, in some instances, from local title companies and closers, their banker is a good source for information, RE brokers, appraisers, tax specialists, the county recorder can give filing requirements, government web sites have all kinds of information, there are good sources of solid information in their local area that will be more applicable to their operation than what might be had here.I suppose to if things get so bad that you can't play by the rules you can always move up north of the 48th with Roy, LOL.

I have asked lawyers, bankers, politicians how the DF act will work and none of them have a clue so how can an investor know how it will work.

@Jeff Howard I can only tell you what several bankers told me since I'm not an experienced investor.

@David Roberts - you are what one of my bankers refers to as "investor with a conscience".

However, if you are someone that starts earning $1m annual income in your 30s, it's usually either as an entrepreneur, banker, or attorney - for the first two, income can easily grow from there at 10-50% per year until at least $5m per year (or more) and for the latter, maxes out at $2m or so.

A mortgage banker I was talking to said that in June the FHA is changing the rules to no longer remove PMI after 20% equity has been reached, is this accurate?

Anyway, the bank thing can be tough with dealing with "bankers hours".