Because most bank financing requires personal guarantees, something strictly prohibited by the IRS in Internal Revenue Code Section 4975, therefore precluding you from using leverage.

Since everyone on this thread was curious about development I wanted to share the link with you! 

I was able to find an Accessory Dwelling Application for Howard County (link).

Even though Cape Coral is your preferred area, Lehigh is going to be able to offer many more benefits such as better returns, lower pricing, it's guaranteed not to be in a flood zone, and there's a better inventory selectionHistorically, appreciation between these two markets has been very similar.

Note that they were sub-1% during the COVID era, which is what allowed many delusional syndicators and funds to raise money for properties that were doomed to underperform.So ask yourself this as if you are in their shoes: you could invest in T-bills to get a guaranteed 4% return, then what is the premium I would require to invest in this person and their commensurate deal?

Here's the link and let me know if you have any questions.

(As they obviously won’t sign a year long lease.) is September really that much better than October that you’d rather have  guaranteed vacancy?

Can someone post web links to the web sites or at least spell out the full name of ESS?

A credit score of 523 is basically a guarantee that they do not pay their bills.

You could secure the loan / partnership with a 2nd lien against the property to help guarantee their position.