To possibly further muddy the waters, the owner did ask that I put some skin in the game by putting $50k down, paid directly down on the note.

I am looking for a good construction lawyer to help draft a contract between me, my partner who is also the owner of the builder we are using so that it represents all of our rights in the fair way.

I'm fairly certain they were just overwhelmed and started to ball park the projects.

Your note will usually be a balloon 5-, 7-, and 10-year terms are fairly common.  30-year amortization isn't as common.  

I haven't done any serious calculations with this, but it would take a fair amount of time to save enough for 20% if I were to go conventional on primary residence.Any insight is greatly appreciated. 

I'll have my license by the end of the year, and starting to second guess my original decision to work for a large brokerage, CB, in the town where I live, which is fairly rural. 

This would be a Fair Housing violation based on familial status.

It won't be any skin off his nose at the moment, cause he isn't getting paid right now anyway.  

I am a fairly new investor as well, but looking to kick it up a notch or 5 in 2016.  

As far as I know, all three have experience in everything from a mop-and-paint to new construction.If you're looking for data support in Snohomish County, I know @Doug M. has been doing a fair bit of work with analytics, might be something you'd want to look in to.As for me, I'm just a small time buy-hold rentals guy, but maybe we'll have a reason to talk business after I wrap up my current purchase, or just shoot the breeze at the next BP meet-up.Cheers, and welcome to the community!