Can someone provide me with some financing ideas other than the two that I just mentioned that would enable the other heir to receive cash from their portion of the equity based on its current assessed value and allow me to take ownership of the home, subsequently remodel it, and rent it?

As investors, we're in the business of identifying opportunities, assessing risks, and strategically navigating the market's ups and downs.

To assess the property's financial performance, key metrics such as Gross Rental Yield, Net Operating Income (NOI), Cap Rate, and Cash-on-Cash Return are calculated.

None of this is of concern, but just be prepared if HOA dues go up and/or special assessments. 3.

Additionally, consider consulting with a financial advisor or tax professional to assess the potential risks and benefits of borrowing from a retirement account for this purpose. 

Also look at the lots on HCAD as it shows an assessed value and market value. 

The assessment came in at $10k over what I'm paying for it. 

🙌I think it's crucial to look at past results and current trends while assessing a market.

While non-profit partnerships might offer guaranteed rents, carefully assess the terms and potential long-term impact on your investment goals.

The property is being sold as raw land below its tax-assessed value.