Having the info will help you weigh the options and make an informed decision.

@Susan Tan you may also have lending options in the Houston area that offer 100% LTC financing for rehab projects.

I may not even go the partnership route but I am interested in just learning about all the options I have. 

Would a DSCR loan be a better option than a hard money loan for this project?

But that will be your decision and at least you have options.

Quote from @Levi Flowers: Quote from @Edward Caballero: Its crazy to see all the negative reception that NWAC is receiving when I've had nothing but a positive experience?

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

I'm looking to purchase my first rental property and have been searching for a deal that would generate positive cash flow based on my projections.

But if you lay out your plan to the owner over the phone, it's very hard to get a "yes" because trust is developed with a face to face meeting.Trust can be established by talking about your past record (as an investor) but also if you have something positive about yourself (profession - real estate agent, nurse, teacher, fireman, doctor - any profession that can give you some added credentials).#4 Owner vs.

So could start with some community banks in Cleveland since you are local.Residential loans for the most part are serviced by Fannie Freddy but commercial loans can be much more diverse with their products so having a few options has always helped me a ton.