Lender paid compensation is when the rate goes up on the loan to pay the lender for the so it might take a 8.125% base rate to 8.375%.

I'm wondering if it's worth the crazy labor cost to pay someone to do the work, or if it's a project I could do myself.  

Would love long term rentals paying my dividends but old homes in Florida area give me stress that one year it can all get wiped out with nothing to show from it. 

Hey Amir, You are right, there isn't many resources out there that teach you how to do ground up development in Houston.

The stagnant water could be a breeding ground for mosquitoes and fly larve (aka maggots)Also, the waterline, tray, and other internal parts may have mold and mildew grow, which will leave a dank smell. 

The interest rate that I was utilizing was a little low, from what he told me, in my area I can expect to pay about 10-15% interest based on several factors (How much or little experience I have, credit score, the deal itself, etc.) and I will definitely be paying points, how much will vary by HM lender (usually between 1 to 3 points).

Not only that, but you'll have to also pay interest only payments on the loan while the property is being built as well.

How did you pay for the down payment, holding costs, and repay the contractor?

Now you need to figure out how to find deals and pay for them.

Each scenario would change how much each person could pay for the land to make it profitable for them.