I have built spec houses, built tract houses against contracts, renovated houses and flipped houses. One way to fund projects like this is a rich partner or partners who puts up collateral (like an LC) so that you can borrow to complete your projects. If the first one is successful, you would be surprised how easy the second one is to get funded. The profit sharing is negotiable-it can be anything form 50/50 to 20% to you the promoter. If you would like to discuss this further, please feel free to get in touch.