On the flip side, if you've got a bunch of Section 8 tenants living in a building that's in a neighborhood where a lot of the tenant base has good jobs, high credit scores, and are generally reliable people, you've got the most risky tenants in that tenant base and that ain't what ya want.

very high risk even I only do them with very specific investors in mind and a plan. we dont flip land we develop every one. 

Be prepared for a high rate/high fees 

I agree that the full 25% deposits were high for new build rather than EMD.

Rents are high and demand is high. 

One of the first deals I did was take down a 26-parcel deal in a highly distressed neighborhood and listed it on the MLS.

This area was always a very high risk and should they rebuild?

Some don't like the idea of a 2nd position lien that is very small and very high on interest rate. 

Even though there is low inventory, interest rates are high, and many properties don't cash flow, look harder there are always deals, you just need to find/make them.

I have done this before and now find the risk just to high.