Depending on the lender and contractor you may have to float upwards of 30% of the rehab cost for a few weeks until draws are finalized.

The empty corner lot can draw debris or hang out sessions with local teens.My biggest issue in the area is that rents are so low that stick build is not really worth the investment and construction loans aren't really an option since ARV is not going to be enough to justify the expense. 

Hopefully I learned my lesson (I have made this mistake before so maybe not).I am glad you are treating it as a learning experience, taking ownership of your role, not letting it turn you off to similar efforts and I suspect you will come out of this more capable of succeeding on subsequent rehabs.Good luck

This investor is claiming that the bank they are using for the construction loan is only wanting to pay out for the construction draws once each work phase is complete (understandable/normal), but are not willing to pay for the property acquisition itself.

This is like a beacon post to draw attention, but then it's just a candle.

@Dezmin McCoy LLC’s, tycially are not expensive , but having the attorney draw up the articles and operating agreement will be a necessity.

If you own the land and are not in any hurry, then you can develop the drawings and wait to bid the project out. 

The 203K loan pairs you with a 203K consultant who will oversee the renovation process to make sure all work is being completely satisfactorily and in a timely manner and disperse the funds to the contractors in draws. 

Kansas City, Oklahoma City, Boise, etc.) that are developing and drawing more people.

touchpoint=guideHere is the language:Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:A transfer of the property (or, if the borrower is an inter vivos revocable trust, a transfer of a beneficial interest in the trust) toa limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.For a mortgage loan acquired by Fannie Mae after June 1, 2007, if a servicer reasonably believes that a due-on-transfer provision is unenforceable by law or would not be enforced by a court, the servicer is authorized to approve a transfer of an interest in the mortgaged property or a direct or indirect interest in the borrower (if an entity), provided the servicer has notified Fannie Mae’s Legal department (see F-4-03, List of Contacts) of the reason for its belief and Fannie Mae has either sent a notice of non-objection to the proposed transfer or not responded within 60 days of its receipt of the notice.The servicer must notify the applicable property insurance companies, tax authorities, the mortgage insurer, and any other interested parties when it processes a transfer of ownership.