Up to 75% purchase price , 1.1 DSCR minimum ratio minimum 650 credit score 25 or 30 year for lender I work with

Also would you focus on a specific target market you are familiar with and know the comps like the back of your hand and have boots on the ground ?

I eventually want to build on the lot but for the time being, I want to purchase it so that no else buys it first.

Connecting with other local investors can help you learn the ropes faster and avoid common pitfalls.If you have any specific questions—whether it’s about neighborhoods, property types, or what to expect—I’d be happy to help.

It’s also worth verifying if Beaumont and Port Arthur have any specific contractor registration or insurance requirements, as local compliance can sometimes impact project timelines. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Last year January MN enacted the biggest # of changes all were added details and raised the bar of requirement for Landlords, including some specifically detailing how a listing must be detailed.

Maybe it isn't worth it, but you should consider the numbers and decide...that could push you towards purchasing another rental. - You mentioned paying down/off a rental and needing to consider the tax implication.

Most lenders are going to be limited to 70% of ARV ($560,000 total loan amount) but that means they could fund 85% or a bit higher of purchase price + rehab ($560,000/$645,000 = 86.8%), which is solid.

The Detailed Engineering Cost Approach is generally used for newly constructed commercial buildings.DETAILED ENGINEERING COST ESTIMATE APPROACHThis approach is very similar to the Detailed Engineering Cost Approach, with the difference being that if there aren’t records for specific costs, an estimated cost is used rather than the actual cost.