The findings are particularly interesting for those focused on the Columbus, Ohio market, which topped the list for both two-bedroom and three-bedroom rental searches.The report also notes a shift towards more apartment searches, influenced by the scarcity of single-family homes and rising interest rates.

Focus on long-term rentals in affordable markets with reliable cash flow, and steer clear of high-cost flips, lower-class properties, or overleveraging in areas that rely solely on appreciation.Good luck!

I am the Vice President of OmniKey Realty, and I would highly recommend scheduling a tour with my investment team if you haven't already done so.

Highly recommend (I require) collecting first month's rent prior to handing over keys.

For example, if you have $130K in equity, you might get $100K-$110K available in a HELOC.Look for a fixed-rate option for the HELOC to avoid rising rates.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

UPDATE:  Just chatted with the city and learned that variances have a high threshold for approval.  

For example, maybe you will get to 10, 20, 30 houses and then find an owner who has a large portfolio and all of a sudden you are at a high door count and now need to hire, need to build your policy binder, and all the other stuff that comes with running a business.

The first agent is absolutely certain the house will sell in the high 400’s.  

@Lillian Pintaro - you are correct for high end MFH here.