Unless you're in a Class A Neighborhood like Palmer Woods, Indian Village, Sherwood, etc,. the additional rent probably won't support the cost to build:(More profitable to take the build funds and buy another property.DM us if you'd like to discuss more...

I don't know your area, so I can only write to my experiences in PA.You don't really convert your property to Section 8 (S8), but rather sign a lease with a tenant who happens to be funded by S8.

I would acquire in cash and then refi into longer funding. #4.

In my experience it cannot be used as construction funding. 

If you create or fund an IUL instead of paying cash you can then get a loan on the IUL.

Equity Created: $550,000 ARV - $409,000 loan balance = $141,000 in equity.Cash Flow: The property rents for $2,950/month, covering all expenses and generating slight positive cash flow.HELOC Potential: Post-refi, I can secure a HELOC up to $86,000 (90% LTV) to fund future investments.

The Democratic bill proposed seems to offer funding to landlords while the Republican bills offers landlords nothing. 

If things start getting tight, you can always switch to doing work for clients too in order to raise funds. 

Starting with a smaller property or a few fix-and-flip projects can help you build equity, gain credibility with lenders, and better understand the process before scaling up.Securing funding for larger projects can be challenging without prior experience, but options like hard money loans might be worth exploring.

Based on rough assessment, the following is needed just to get it listed:NeedsLowMidHighRoof$7,747.00$12,580.00$26,037.00Siding$20,000.00$25,000.00$30,000.00Windows$9,000.00$12,000.00$18,000.00New Deck$8,000.00$10,000.00$12,000.00Roof Leak Repair$2,000.00$3,500.00$5,000.00Mold Mitigation$1,000.00$2,500.00$3,500.00AC Units$13,000.00$15,000.00$18,000.00Carpet Replacement$2,500.00$3,500.00$5,000.00Kitchen Remodel$5,000.00$10,000.00$20,000.00Total$68,247.00$94,080.00$137,537.00Due to lack of capital to fund these repairs, I believe the best option is to find an investor looking to flip.