Could you gift the down payment to your mother in law so she can buy it and then transfer title to you when your house is done?

Pick up the book Building Wealth One House at a Time by John Schaub.

Interesting to see how feasible this will be. 

If it was me...I'd check with zoning to find out how many dwelling units I could build, and I'd find what the requirements are for those units (type of house, height and setback restrictions, etc.).Then I'd find out what local builders think the cost to construct would be - just get a cost estimate per square foot for 2 or 3 different levels of finish.

Currently house-hacking in Madeira Beach.

Months passed and ABC kept saying that house was “very close”.

I am actually looking at a house that is not a Victorian but needs part of the home bulldozed and a ton of work done.

And for the short term goal, do a house hack as you have planned.If you need any more direction send me a message.

Inspections--house, termite, possibly separate roof and structural8. 

The cheaper price point often comes with older housing stock that needs more work.Not saying Cleveland/Akron are bad markets - plenty of investors do well there!