FHA Loan for New Construction in Charleston SC
BP Community,
I bought a lot in West Ashely area of Charleston, SC with seller financing. It is valued at $105k and I have a $65k loan. I’ve spent $20k removing an old house and clearing the lot. I’m working with an architect to design a triplex- $450k to build. My plans are to live in one unit, rent one unit as a furnished executive apt @ $2500/month and rent the 3rd unit through Airbnb @ $3500/month. My background is in long term and short term rentals. What does the BP community recommend as possible financing with a low down payment?