That being said, the vast majority of mortgage products available (primarily DSCR) to LLCs are still going to consider your personal credit in the underwriting process.

The ability to see the major issues before you buy is key especially when buying dilapidated early 1900's homes.

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

One of our parks is 60% POH and in my experience the only way that park pencils as well as it does is to get through all the major repairs, get the homes 'right' and then keep them 'right'. 

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

Majority of banks, credit unions, and hard money lenders are cutting back.

@Alex TangI just had a major fire in one of my rentals in December.

Majority of my clientele are out of state investors.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

Personally If you like your current residence and hope to stay there long term I would forgo major improvements on my primary and use all investment savings to make you more money and cash flow.