Save up like your future depends on it.

Depending on what you're going to do with it things can be expensive and add up quickly to surpass your budget.

I am curious if other investors create a business plan or provide other documentation to loan officers?

If so can you provide a referral for this lender?

There’s lots of property managers and service providers that come.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

I see these four rentals providing us a regular stream of income during retirement. 

Depending on the jurisdiction, some will allow, and some will not allow, development in the flood fringe as long as you can demonstrate that the development does not raise the BFE (no rise) or possibly some other criteria, again jurisdiction specific.

@Phillip Rosin - Based on the info you provided, I recommend that you start with a Fix to Rent short term loan to purchase the property and rehab it, followed by a cash out refinance into our DSCR loan.

Cleveland is a great cash flow market, but you really need someone who knows the area to provide guidance.