Hopefully kept good records of improvements / anything to increase the basis2.

I wouldn't be opposed to having a little skin in the game (closing costs, inspections, etc) I would be living there paying market rent and doing the improvements myself.

You may borrow an additional $35000 for hard cost improvements.

We invested $55,000 in key renovations, focusing on modernizing the interiors, improving curb appeal, and ensuring the property met market expectations.

We've been continuously improving it, but it has been working exceptionally well for us since we hired a developer for the complete build-out a year ago.

You also have to be super detail-oriented, focused on continuous improvement regarding the property and guest experience, very in-touch with what it's like to be a guest at the property (and a cleaner of it as well), and focused on technological tools and opportunities. 

Without a mortgage, this decreases the risk of a rental vacancy and improves cashflow.

Improvements on property you own do not qualify.2.

With things like the ONE Linden plan in Linden, which is a 50M plan to improve the neighborhood.

I would focus on improving your credit and obtaining a more stable income so that conventional financing is an option.