IF you plan on going back someday, and this is the home you want to move back to, then renting it would be a good idea as long as you estimate that it will cover itself, or preferably, cash flow, which it appears that yours will at @ $2K or so per month (after expenses). 

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

If you have scorable US credit, you'll get better terms.

I'd be interested to know if you had success with the open house.  

As long as you are following the law and the lease, you shouldn't worry about lawsuits.

It possible that the market will stay low for a long time.

Quote from @Aj Green: Hey,(Posting again as I sign today so it is urgent)Is there any cheaper lender than a 6.75% for an Ohio investment property.No brokers fees, 110k, no points, 760+ credit score, 20% down, 140k value, no realtors, single family, rent covers mortgage, 30 year term fixed.Thanks for the help!

I have an investor friend who is a very successful wholesaler in a market, (south FL), that is crawling with wholesalers. 

Quote from @Jack Matthias: Hi Josh,Curious why the Heloc as this can be done with better terms going the conventional route. 

Ok, so kitchen and bathroom updates.Would you be willing to explain the 70% rule in layman's terms?