Sadly his wife passed away less than half way through the construction and the owner just dropped everything, leaving that part of the house unfinished with wood and metal beams revealing. 

@Lemeiko Woods see the link below for our next meet up details. 

Harper Woods or Highland Park? 

I saw it had tremendous potential because it was a very unique lot on a dead end street that backs up to about 12 acres of woods.

Location is key and well worth the premium.

could the premium go up for the structural cover cost then? 

You will usually be paying a bit of a premium in rate usually 1.00-1.50% in rate premium but the advantage is the original note and deed/mortgage security instrument will be recorded in your LLC's name (no due on sale risk of LLC post closing transfer with a conv/fannie/freddie mortgage).If you want the lowest rates possible then you may want to stick with the agency/conv paper and doing that post closing transfer after you've seasoned the agency note/mtg so that the lender can get a chance to package it up and sell it before you do that title transfer.

@Joe Wooding Welcome to BP! 

Some contractors sandblast wood with sand, or they blast it with dry ice.

You best be prepared to pay a premium to have those trade professionals sign-off on work they didn't install then.