If its clay, well, thats fine, we would have needed to dig it up anyways.

Double digit inflation and devaluation of the dollar is the biggest risk.

I would recommend contacting your realtor if your loan objection deadline is soon as this will at least allow you to recover your deposit. 

I can’t see any logical objections, but people are strange. 

I know NJ does not have a law restricting amount down like most states (10% or $1000), but you still do not want to get upside down with your Contractor, and I'm speaking as a Contractor.....I can't see why any reasonable, honest Contractor would object to getting paid as the went along.

That said, if the numbers are acceptable to you, then you don't need anyone's approval.  10% return on cash sounds objectively "reasonable", but many investors will not accept a number that low. 

Double digit increase expected again in 2021. 

Depending on the market and seller, the development objection can be overcome. 

So make sure you come in informed and able to discuss your objectives. 

For example, restaurant (where owners are objecting the most), notoriously don’t pay very much, with median wages around $11 for servers in 2020, compared to more than $20 across all occupations.