The second son is married but has not lived in the home at any point during the last 20 years so this doesn't seem to present any options for savings.I thank everyone in advance for your thoughts. 

Here is a link that provides fantastic information on the turnkey investing option from BP. 

@Sam Ojo Sounds like you've made a lot of positive moves that have resulted in you having options at this point. 

Thank you,Jerry Jerry, I recommend getting in touch with an experienced broker who can educate you on all the possible options in the investment space for cash-out refinances.

build to rent is great. they are an intermediary that help investors contract direct with turn key new build. they are pretty sophisticated we have sold a house so far and we are looking to sell other multifamily with them. there is a vetting process and as an intermediary they don't control construction they help vet builders and establish relationships. they have a big team. the other builder I've never heard of but unless you can see your house I wouldn't touch it. rent to retirement has a strict policy of 90 days until certificate of occupancy until they will send a deal out they are good at what they do and I'd recommend them. they have options all over the country and established relationships.

What I don't like is seeing the removal of peoples options and freedoms to self select and engage in what they want to do. 

My budget will be around $200k but I’m meeting with a lender on Tuesday to go over all of my options.

@Karen WanamartaThe zoning is R2, which includes a wide variety of options that includes multifamily, which is defined in the general plan below in this excerpt. 

Other lenders will specify a maximum LTV.Payment Options: If you allow payment deferral, note it here.

Hi Lina, It’s exciting to hear that you’re looking to invest in a mid-term rental (MTR), and I’d love to help you navigate the financing side of things.Understanding loan options, down payment requirements, interest rates, and how lenders view MTR properties is crucial to setting yourself up for success.