I've been involved on this forum for close to a decade now. 

.#6) Here's an excellent, objective resource that may help further: https://www.investopedia.com/articles/personal-finance/06151...We hope this helps!

The draws would be set as certain construction milestones are completed, and the contractor would then receive a draw (a payment).Thank you so much Charlie for this great information good to know.  

Is there any websites or platforms that I can add to my knowledge that help with this diligence at fair/free cost?

I had several other investors lined up interested in this deal...

They talk about it a bit in this thread https://www.biggerpockets.com/forums/25/topics/1113793-bigge...

Do you think this type of financing is a game-changer, or are there pitfalls to watch out for?

@Marcus GriffinTypically as part of a modification the bank will have a “shock package” which includes information and forms to be completed by the borrowerOn those forms there are questions like will they or do they occupy the property, there income, do they plan on keeping th home.This is equivalent to lying on a bank application which is most likely considered fraud Not providing legal advice but this is definitely a very slippery slope you are getting involved in.

I’ve done this method once before, but this time I’m a bit torn on the best approach.

This is perfectly fine.