SIGNED STATEMENT OF INSURED AS REQUIRED BY SECTION 3905.33 OF THE OHIOREVISED CODEThe named insured ___________, acknowledges that the insurance policy (other than life insurance) as described above is to be placed with an insurance company not authorized to do business in Ohio.The insured understands that the insurance company is not a member of the Ohio Insurance Guaranty Association and that Chapter 3955. of the Ohio Revised Code is not applicable to claimants or insureds of said insurance company.

Most larger communities will have a Homebuilders Association, i would start networking to find a builder that can finance the construction. 

It is also important to consider the transactional fees associated with originating the HELOC, whether an appraisal is required etc.

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

Finally, short-term rentals can offer potential tax advantages, as many expenses associated with the property may be deductible.

FHA loan through my mortgage broker associates.

This can put a significant strain on your finances and cash flowThey also often require a large down payment themselves and may have a strict repayment schedule that can be difficult to meet, especially if there are unforeseen circumstances or delays in renting the property or generating income from itIn addition, relying on this type of loan may expose you to higher financial stress and the possibility of default if you are unable to meet your loan obligationsThe final decision depends on your overall financial situation, risk tolerance, and your ability to manage the associated costs and obligations

However, I was unsure whether I needed to open a new bank to manage the finances associated with the property.

Everyone associated with living there and/or paying for the unit goes on the lease.

Let’s look at the math.Pre-Covid, the National Apartment Association (NAA) released data showing that the average renewal costs between $5,000-$10,000 per unit.