Hey Jake,You'll definitely have some options with DSCR lenders, but you'll need to be really sure that the lender you use is okay with underwriting STR income as well as with the ADU as a mid-term as they are kind of tricky.With DSCR loans, your credit score is going to be a big determinate to where you will lend.

I'd certainly recommend doing some kind of environmental study given the chemicals and such that could have been used there but more-so I'd be curious if the city wouldn't have a testing requirement to redevelop. 

Hehe... thanks for the kind words and humor,@Chris Seveney and really appreciate you taking the time to read and respond. 

Goodmorning Johana,Best bet is we refinance the note and see what kind of terms we can get going on this.Typically can close fairly quickly here in texas using hard money notes.

@Ernest Wade It all depends on what kind of returns you are looking for.

To me these kind of arrangements are always one sided.  

What kind of contractors should I be hiring? 

I’m primarily evaluating the deal I’m lending on, but I also want to see what kind of track record the borrower has in managing their financial obligations.

.✅ No rent control of any kind.

You pitch with hype and huge promises, what kind of student do you think you are going to get?