Welcome to the site, Steve.

What is the budget for the remodel? 

Welcome to the community, Tara!

Here are some quick tips to get the most out of the community:🔍 Use the search feature – Got a question?

First off I am older, about to turn 64. 

1) Real estate is the "how", but make sure you're aligned on the "why". 

Most lending is based on cashflow, not the 2% rule (although still a good rule of thumb for some types of investments), might have the most help from the group if you provided some of those details here just so it'd be easier for us to help you best. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

i fyour getting paid off when the vertical loan goes on.. then your in first position . so not sure what the issue is? 

Commercial deals are going to look at your qualifications as an investor as well as the DSCR value of the property supporting itself (at least here in the USA).For construction, you will need to look into licensing requirements such as a GC license.