I would touch base with the lender and get some feedback on why they are capping the LTV.

You could explore a private note sale but without hard collateral it could be difficult and would come with a discounted buy out.

Quote from @Yaroslav Shtogun: Thank you James,Do you know how difficult it is to do dimensional variance on the lot?

It's difficult to see how a tenant will be after screened and signing a lease.

For example I know many who are now just lending because they are getting 10-12% short term which is far better than any cap rate on real estate. you do not have the equity upside as you do real estate but its a way to play the short game to see what happens over the next 12-24 months and decide when you want to buy.

Thanks again for your input, and I'll probably reach out as I get further along in the process.Hi @Edward Zachary Samperio, the regulations aren't that difficult and I'd be happy to give you a quick rundown about the density limits, hotel occupancy taxes, permitting, etc.

As you might already know, house prices in New York are extremely high, which makes it financially difficult for me to try house hacking here at the moment.

Even at a high cap rate you've got several million dollars of market value here, so I'm curious about your base numbers.

I've been self-employed for only 6 months, and loans are proving difficult to come by despite my great credit (not to brag, I'm moreso frustrated and seeking help).

Reason I ask is in note investing it is actually usually pretty difficult to lose money consistently, thus the questions.