Set clear terms in writing so that it’s “official,” which can protect everyone involved.Renovation Phasing: If the reno is intensive, consider breaking it into phases.

Private Money or Hard Money LoanHow it works: Short-term loans from private or hard money lenders to purchase the lot and finance the construction.Benefits: Easier approval and faster processing, focusing on the property value rather than your income.Downside: Higher interest rates and shorter loan terms (typically 6-18 months).

Without going into great detail, you are provided 50 motivated leads per month for 1/5th of the cost I have found from “retail” lead companies. 

I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?

I also suggest you post your listing to "Short Term Rental Listing Advice" on Facebook and let them give you more feedback as well.  

Buy and hold used as short term rental property.

I think 1) 10 years that includes recovery from GFC and the Covid pandemic is not a long enough duration2) I think for those 10 years, 100% is not that special3) I think many Midwest markets did not experience the appreciation you depict.There are Midwest markets that have pretty good long term appreciation but there are also many Midwest markets that have appreciation that has not historically kept up with inflation.  

While the prices are attractive, I'm concerned with its long term viability.

If there isnt a long term commitment where he takes you to collections and destroys your credit for quitting early, $700/mo invested in yourself will not bankrupt ya or matter much 5 or 20 years from now. 

Personal Name for PurchaseLLC Loans: Loans for LLCs usually come with higher interest rates and stricter terms because they’re considered commercial.Personal Loans: If it’s your first property, buying under your personal name might be easier and get you better terms.