Set up a meeting with their broker to fully understand the structuring of payouts at closing.

To calculate your land value, take into consideration the average price per square foot or acre of the comps and apply that to your land.Steps to apply comps to your property:1) Compile multiple comps: Find a real estate agent to help you put together a list of comparable properties.2) Make adjustments: Analyze each comp carefully to determine whether it has advantages or disadvantages when compared to your property and make adjustments to the value upwards or downwards as necessary.3) Determine the use of weighted average vs average: Depending on how close the comps are to your specific property; you may consider utilizing the weighted average method to place a greater weight on those properties that more closely resemble yours.Using comps to value your land can add a component of complexity and subjectivity.

Many of these properties I saw had been on the market for several days, so seller contribution should cover the closing costs. 

Since line of credit like this can close every 1-5 years, you would have to continuously renew this and it may not be cheaper than getting hard money.

Those 2 estimates are closely related and how you approach one leads you to how you should estimate the other. 

Hi Aaron, I just closed on my first property in Indy.

And with just starting out not having much source of income rather than my personal job,   Thanks and sorry for all the questions,  I wish I could say that’s all but no where close. 

Setup dummy accounts and run them through what would be (as close to normal) day to day process and see which one works best for you.

Over 250 closings as a mortgage broker, I've realized there is no "average".

asking for myself as I’m planning to acquire and successfully close on my first flip here soon :)