He’ll basically renovate an entire 1000 square foot house for 4k if I buy the materials.

In my city at 400 square-foot garden shed finished out as an efficiency apartment would get for $50-$600 a month.

How much per sq foot do you pay for your flooring and grout-able Vinyl with install?

Beware of the tenant who asks for a 6 foot enclosed yard area so their unlicensed daycare can get licensed.

do you live in the foot print of the banks.. that makes a big difference as well. 

They are probably using trades that charge .75-1.00 a foot then marking up.

This will get you moving forward on a much stronger footing.

Like 1200 SQ foot SFH.

Typically only community banks and commercial departments at credit unions will be flexible to this.The exceptions are national hedge fund based mortgage products like Colony and others that will be able to make one note (mortgage) to you securitized by multiple trust deed's (what you're asking for above from multiple states).The problem you'll encounter is local community banks or credit unions which only want to securitize properties in their state (single state) or if they have a larger foot print (regional player) then they will only securitize properties typically in their footprint (unless if you have a really good relationship with them).I noticed you said you had one in CA and one in WI, I'd probably go with a "Colony," type hedge fund lending product on that specific request.There are others out there that I've seen but nothing off the top of my head at the moment.Best of luck,

ON of the issues is you simply cant build for much less than 75 dollars a foot PLUS the cost of land.. so not sure what your version of affordable it.However you can buy homes right there in B ham for 20 dollars a foot or less.. that IS your affordable housing.. granted its not nice brand new.. its sweat equity.. but it is available.. then the other issue is even though its available a lot of people dont want to live in those areas because of crime and the schools.. its tough really is.. our affordable housing in Portland starts at 300k.you can buy homes for about 225k that are used fixer types.. but nothing cheaper.. unless its a bombed out home.