And yes many argue that the equity is taken out of these up front which is mostly true. 

Nice synposis here.We don't require an appraisal on SFH in our area of expertise (GA).Appraisals are taking 2-3 weeks, and most of the appraisals we are seeing are off base by a considerable margin.The HMLs that people should be skeptical of are those lending 100% of costs, "too good to be true".

Not sure if this is in the right place, since it's not a true BRRRR, but it closely resembles that...I own a rental in the Pensacola, Florida area (I live in Ohio, it used to be my primary residence over 10 years ago). 

I know, I know we look way too young but it is true. 

This is true land development and the fact that you are having someone from Fiverr develop your site plan suggests that you don't quite know what you are getting into, I have a feeling this is why some people on here are doubting you. 

This is true even if the claim is not your fault, which is why people who get into car accidents where the other party was 100% at fault frequently see their auto insurance premiums go up.

@Dakota Fleming, I'd proceed carefully, as 5% sounds like a too good to be true deal from a private lender. 

A true testament to the team's ability to properly identify what people are looking for and make their product stand out.

Same is true of furnaces in the winter. 

The same is true with real estate investing.