I use local banks for all my deals (big or small) they are much more flexible and want to encourage local growth vs. a big bank who doesn't give two flying flips about the city/town they are located in.

I sense his doing that to skip town and leave me with an unpaid rent bill.

If it is specialty construction, the people doing it may be from out of town and need a place to stay for the duration of their work. 

In my town, they don't call me Jimmy Krapshacks for nothing, but there's a certain level of krap even I won't stoop to (or squat for).

What part of town are you looking at?

Despite the Nashville growth, my goal is a Short Term Rental 1-2 hrs east of town essentially between Nashville and Chattanooga (Sparta, Spencer, McMinnville, Smithville, Woodbury).

Part of the time camping they are just 10 miles out of town and commute to work. 

as @Arthur Cordoves said you can get fix to flip or fix to rent properties loans where they construct the loan with funds to rehab the property all into one.I am actually in discussion with one of my small town local lenders for just this type of loan.

We are in a small town and have a famous flea market so it rents regularly every month, but not all the time. 

Also other things have always factored in such as the location of the property, the desirability of the neighborhood or town, the proximity to shopping, schools, or other attractions.