On premium new construction homes in this area you can not even guess what the taxes will be because of the spread.

How much appreciation on the value of the property an investor can expect conservativelly on a pre-construction condo purchase?

Then you do adjustments to comp prices depending on their differences with a subject property.Where do you go to determine the adjustments for a particular neiborghood location.

I know a lender who does construction loans.

He also had quite a bit of construction experience (a tremendous asset in this business) and was also able to carry some of the construction costs, which helped a lot.

Starting out my business partner and I had under $10,000 to start with, but we had some capabilities to carry construction costs (via my partner’s small construction company).

If you get defaulted on there's a good chance that the first is in default as well, which means to get your money you're going to have to get the first current, foreclose on your note and then sell the property for enough to cover both, plus a profit.Bad credit history, bad payment history means the risk is higher, which makes the return higher on a RISK ADJUSTED BASIS.

The upper end (over 300K) and new construction is getting pretty soft.I've been researching Lubbock, and it's very similar to Amarillo.

I may be wrong, but I think you're trying to be constructive here.

I will be posting a subject in the "starting out" section asking for constructive criticism and thoughts from others who have raised capital, and found partners (or for that matter invested or became involved as partners) to further their RE portfolios.