Rezoning is probably one of the riskiest plays in real estate, but it is potentially one of the most lucrative.

My most recent build cost I put together for a house build on an empty lot was at $300/SF as base cost.

Perkins - I'm based in Atlanta and fund a lot of SPEC new construction projects here, from 1-4 to 30-35 door multifamily and mixed use. 

Some banks may only loan based on the value of the land.  

Of course, the rate can be slightly steeper than the conventional loans where it is a full document loan, where they need to qualify you based on your income.Alternative way, is to acquire the 2nd property as an investment property with conventional, while putting 15%-25% down payment.

Base don what I am saying, what are you all seeing as good/bad for this deal? 

I paid it, but i was pissed as most of the dogs played out back off leash. a couple months later i warned a woman of the leash law, and said you are probably safe as the person that complained was only targeting me. 2 days later one of my neighbors marched across the street saying (my wife said you were charged the HOA and fined for pet fee.

Are there any asset based lenders that can take something like this down given it has solid cash flow? 

WE ARE PLAYING MONOPOLOY FOR REAL! 

If you are looking for something in the 100-200k range (based on the capital you have for a 20% down payment), places like Ohio or other places in the midwest are great opportunities.