Second, if you are thinking a new build, this entails things like a construction loan that eventually becomes a full standard mortgage.

I eventually see myself flipping houses and doing buy and holds, but right now I do not have the capital to do so.

Ideally, you'd build up savings to eventually cover 6 months to a year of your annual budget.   

That's a new consideration for me to know others may not be able to easily finance when I eventually sell.I don't see how that makes any logical sense from a lender (or note holder) risk POV - if the current structure could be permitted and rebuilt to it's current use in the event of destruction, why would the lender care?

We came in at $825K, eventually settling at $831K.

Welcome to BP and the never dull REI world.

It seems pretty common place to just lock in the fixed interest rate with the expectation of eventually refinancing to a lower rate.

It won't make you wealthy in a year, but it will eventually snowball, especially when you add the appreciation, mortgage paydown, and tax advantages mentioned by others.

But eventually you run out of suckers to buy 500k housesCheers!

Eventually they will need to see it but again they should be able to give you a relatively accurate estimate.