I know a lender who does construction loans.

He also had quite a bit of construction experience (a tremendous asset in this business) and was also able to carry some of the construction costs, which helped a lot.

Starting out my business partner and I had under $10,000 to start with, but we had some capabilities to carry construction costs (via my partner’s small construction company).

The upper end (over 300K) and new construction is getting pretty soft.I've been researching Lubbock, and it's very similar to Amarillo.

I may be wrong, but I think you're trying to be constructive here.

I will be posting a subject in the "starting out" section asking for constructive criticism and thoughts from others who have raised capital, and found partners (or for that matter invested or became involved as partners) to further their RE portfolios.

Perhaps a strat. of buy, hold and sell is the best bet.

The location is very good and the unit is easy to rent although the building construction is average (built in 1975).

There father owns Montelango construction, so they are able to get cheap labor and materials for there homes.

Nope.Remember, it wasn't the Realtor who initiated thisit was my friend (who reminds me alot of you Ryan).He's in construction, and has a sixth sense.