of course this is where a developer comes to play .. and since I am a small time one.I can tell you that in markets that are robust.. land is a premium.. if it has to be subdivided and infrastructure built there is a small segment that can do those and have the means to get financing very tough..  

If your loan is a commercial loan (by commercial I mean any loan not on a primary residence) there is a VERY high likelihood your loan will be sold.   

What I mean is I was excited to close our deal on the duplexes and I made the numbers work!!!! 

Aside from that, does this mean that "vacation rentals" like homeaway etc is legal/friendly in most cities?

I mean, what happens if you have a website, even one targeting a specific city, and someone contacts you from outside your ideal area?

@Brett Goldsmith you mean basically if I have a real estate license, I need to tell them that I'm buying their home to use it as a rental property?

They will both be pulling listings from the same MLS based on your criteria, meaning that they will get the same results based on the filters.

Now don't forget that you have to pay off those loans as soon as money is taken out which means you will be paying the entire construction period while you have ZERO income from that property.

Even though I have text documenting her giving me an ok to go.

Call a different guy and in the mean time cutvthe power to the unit to stop it from ruining your property with the leak .