Once I have a portfolio I'm happy with, I'd look into private money lending.

I live in East Idaho but do Hard Money in the magic valley as well.

Probably we will lose money when we sell.. 

I fought like hell to keep the property as my brother and the lawyers wanted to sell it and put the money in the pot.

@Joseph Turano Looks like a great deal and good use of low money down!

Therefore, since this loan will end up sitting on the lender's balance sheet, you should be prepared to pay an interest rate that would make sense for that lender to have their money tied up without earning the additional income they would earn from selling their loans at a premium on the secondary market and being able to re-lend and keep flipping the money. 

My plan will be to purchase a vacant land with cash and finance the home build through a private money loan.

I guess maybe, I could put less money down, so I could show a greater loss for this year?

If that's what you really want, maybe a friend or family member would enjoy making some extra money.

If you want to make money in real estate you don't cut special deals because of a sob story.