With it being a difficult property for an investor to find traditional financing for, how would I go about assigning a realistic valuation for the property if we were to entertain a sale?

I've seen some pretty killer terms for foreign national Canadian loans from RBC bank, if they can meet traditional income qualifications.

While the traditional approach involves buying a multi family property, living in one unit and renting out the other - with rising prices and interest rates; others have considered renting out bedrooms as unit spaces. 

That's not the topic of discussion - we're talking about saving INTEREST using a HELOC payoff strategy versus a traditional monthly payment strategy.

@Sam Dal Passive activity gains, such as those from a sold multi-family investment, can only be offset by passive losses, including accumulated ones from prior years.

If it needs that much work will a traditional lender finance it and are you qualified to get financing?

Options like our partner Baeslane’s free online rent collection platforms, payment apps, and ACH transfers are convenient for both parties, but traditional methods like checks or cash are still widely used.I’d love to hear about your experiences:What rent collection method do you prefer and why?

These lenders often have more flexibility with underwriting and may not require traditional income documentation.

There is an alternate path that bypasses the dump, just need to either build it ourselves or get the town to build it. 

well you have your own answer there are no lenders for entitlements  there are JV partners like me for entitlements but its not at traditional lending rates of course as its all risk capital.WI funded 3 entitlement deals in 2024 in Loudan  county VA to the tune of 7 figures in cash. since my client does not own it its unsecured ..