Cleveland is a great market to invest in as well if you're looking for that higher cash-flow.

To keep these approvals valid, developments should secure public investment to support housing affordability and ensure that at least 50% of the units are affordable.

If this is your first investment property I'd shy away from HML and look else where.

You could structure the deal with seller financing to bridge the gap.Possible offer structure:-Purchase Price: $170K - closer to actual value-Down Payment: Low or zero down to conserve cash-Interest Rate: 3%-5% - or better yet, 0% if the seller will agree-Monthly Payments: Interest-only or deferred until the sale-Balloon Payment: Full payoff in two years when you sellIf he wants $200K, you can still make an offer of:-$170K purchase price + $30K as a second lien due at closing-Seller carries $170K at a low interest rateHe would feel closer to his number, but you still keep within reasonable investment limits.2.

For a number of years the majority of my time has been devoted to investing and developing.

Investing in a low-crime area.I'm not being facetious. 

This is a great place to learn and to connect with people so take advantage of all the great resources.Welcome aboard and best of luck investing!

We plan to share ownership of the property as I am going to invest my money into developing (building a Detached ADU in the back) and re-modeling the property so that we can collectively sell it for a profit.

Don't buy a condo in Dallas as an investment property.HOA dues will kill the deal. 

Welcome aboard and best of luck investing!