@Yanhua Sappin your best bet is to create a gameplay prior to landing in Tampa.

I moved here from Florida after seeing the projected growth.With little credit history, it will probably be your best bet to build up your credit to become more lendable, or to go DSCR so the loan is strictly based on the performance of the property. 

If you aren't clear on it, I would bet they have no idea either. 

Plus if you do not have a well established team to get your project finished up before the end of the summer selling season, you may not get the return you were expecting as holding costs and declining values are eating profits.Option 2 sounds like a safer bet, but yes you will have to cover some expenses and may have to carry the property with your own cash until rent prices appreciate enough over the years to cover your mortgage payments. 

Personally, rather than push on rate I would go for max flexibility on the repayment.

They are more flexible than a bank.  

You may need permits for plumbing, electrical, and structural changes.A HELOC can be a flexible and cost-effective way to access funds for a down payment on another property. 

The equities side is actually a hedge; you're really 67%-80% betting on debt. 

I am new and flexible.

This can be advantageous because it often allows for more flexible terms, such as lower down payments and sometimes even lower interest rates.