Request a business plan or financial records to gauge their ability to repay the loan.

I do agree that mechanical upgrades are a good idea if necessary, those are almost always a safe bet for ROI and resale-ability.

This produced a shortage of houses available to rent and contributed to the ability of investors to raise rents.

I'm glad you are getting into the Cleveland market.I have clients running short term rentals in these areasEast side - University Circle, Shaker Heights, Cleveland HeightsWest side - Ohio City, Tremont, Edgewater, LakewoodHere is a recent article on a bill passed "House committee passes bill to block cities from regulating Airbnbs, other short-term rentals" https://ohiocapitaljournal.com/2022/05/11/house-committee-pa...

Oh, so when you've misrepresented self and falsely claimed ability to purchase and seller is looking for proof of those false claims what do you do....... 

Ordering a full topographical survey of the property (which will be required for future development and application processes anyway) will give you the ability to show engineering/design groups what you have, and they can give thoughts and bids leading to a site plan. 

Job/ income - tells you if they have the ability to pay you.

As a builder we control the cost and we can adjust to our clients budgets when possible, or provide additional turn key services as blinds, rent units, pre-rent units or let their property manager start advertising even before closing to give our clients the ability to make money right away!

If you buy in an area around Lake Winnipesaukee or Winnisquam you may find the ability to rent to STR folks that want the lake, to skiers-Gunstock ski area is in proximity to Lake Winni, and there are some ski mobile trails a bit north of Lake Winni closer to Squam lake. 

As a builder we control the cost and we can adjust to our clients budgets when possible, or provide additional turn key services as blinds, rent units, pre-rent units or let their property manager start advertising even before closing to give our clients the ability to make money right away!