Our valuation report includes MLS comps, a priced schedule of work for the rehab, and an estimate of what the highest price (MO) you should doffer is based on the ARV, Rehab, Profit, fixed costs etc.Send us a PM of we can help. 

Huron Valley Financial in Ann Arbor reportedly has a one-close construction loan so you don't have two sets of closing costs for the end loan.

I've also written a report on how to evaluate and choose a market and another one on how to invest out of state.

I have also read through the town housing reports and they have a severe need for rental housing in this market.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookI have a report a walk around the country and emerging markets email me for a copy,Paul

The fresh water canals are a "nice to have" but I wouldn't anticipate a big bump in rents because of them. 

Start with the appraiser, not the bank.Find an appraiser that can do it, likely charging some extra fee.Ask which and lenders he often submits reports to.

Please see the link to the review of the Texas Quarterly Housing Report. 

That does not mean a FICO score is needed and some HMLs or private lenders will not even look at a FICO  score or a credit report.

To be more clear, if income is not reported to the IRS, it's illegal.