What’s the current loan balance and terms with the hard money lender?

I was last getting terms around 5-6% for the first 5 years, then floating with prime, 20 year term. 

Old home built in 1920 with original painted wood siding covered by aluminum (which seems to be costly these days).

I’m considering buying a plot of land in the Cleveland area and getting a manufactured home (duplex if I could find the right zoning) put onto a permanent foundation to use as a long term rental. 

Some will offer a HELOC even if they originated your first mortgage. thank you for taking the time to respond, I will look with some credit unions That's a good call.

That's a great approach in terms of starting with a 3-month lease. 

Some of the original framing remained but that was it.

(Had we rebuilt the original windows we would have been fine and wouldn't have had to bring them to current code.)

I know we can start with DSCR and refinance, but then you're paying closing/origination costs twice.

Still, I think you'd find it difficult to find one that would be a good long-term investment unless you had another ~20-30 years to go, it's at least cash neutral, and you don't plan to hold it too long (to avoid too much investment loss and before you get to the point where it's unsellable because of too few years left); that's another way of saying that maybe it suits your cash needs in the near-term or is at least less of a pill to swallow than other options until you find something that's more of a sensible long-term play