This type of financing is not regulated so it's really up to how the private money lender will structure the extensions. 

Comission is regulated by the listing contract between seller and broker, example 6%.

Type Texas Department of Llicense Regulations down payment to contractors into your search engine.

There has been a bit of movement in regulations here lately that are probably moving to more flexibility, but so far I don't see it in DFW much.   

as you might guess I can give you chapter and verse on this business back to 1900.out west there were literally Million's of lots platted with no roads utls etc.think Riverside San berdo counties ( high desert)  counties of N cal  Lake county 100k lots all platted no roads.. even in Santa Cruz ,  Sonoma and other bay area counties you have lots platted that were never built on.. but someone has been paying tax's on them for 100 years.. the big years were 1922 to 1928.remember there were no regulations..

Politicians and government regulators DON’T.  

Carrying on financing related activities for a fee, like providing loan commitments places you under finance regulations.

Short-term rentalsOnly works if the regulations allow it and you actually want to run a hospitality business.

Books, podcasts, websites, and seminars provide general concepts, but real investing happens in specific cities, with specific properties, with unique rules, regulations, and market dynamics.

Just watch local regulations before you buy.