However, the other friend (who is a loan broker) said it's better to do a note, so that I can refinance as a rate change in 2 months.

New LLC will be buying a property with a commercial loan.

Acquire the land through a seller-financed deal for the deed to the land and use it for collateral to cover the 20% down payment needed for the construction loan. 

I have "one on one" students in Atlanta, doing very well, but if price is an issue, I'm not your guy.

I know they can be financed just like a stick built construction loan, however, my credit union is not doing construction loans right now and does not have a time frame for when they will (SECU).I want to use the land as down payment if possible and finance the modular and the site prep for it.Looking at getting a new modular duplex or a SFH. 

I’ve maxed out my VA loan benefit with three homes.Keep up the momentum!

Research the market to find favorable conditions, such as job growth, population expansion, and affordability.Assess your financial status and consider different financing options such as conventional mortgages, private lenders, hard money loans, and innovative financing approaches.

if so, you would need a bridge loan.

I haven't yet looked into a DSCR loan and what the differences would be.

Since you still have a job, try to get an FHA loan or better yet, a 203k loan for a distressed multi unit.