Hi Vinay, I own multiple properties and live in Columbus.

I recommend researching the average appreciation over the past 10 years in your target area to get a clearer picture.As you know, in real estate, ROI comes from multiple sources: Home Appreciation:  Reno Appreciation: Value added through renovations or improvements (usually just in the first year).

if so you will need multiple properties - don't believe all you hear about the cash flow in Detroit. 

This question never has a "best" answer, only best for your situation!

Plan is to purchase multiple vacant lots for future development.

If there is, get a real appraisal with as is and ARV and put together a REAL SOI that you think is conservative from multiple GC's.

A HELOC felt like the right approach, but I'm learning it's pretty impossible to find a lender for my situation.

Most will work hard when they are doing the capital call (a few of my deals did that) but some actually called to discuss the situation.

Quote from @Aaron Letzeiser: Quote from @Mohit Gupta: @Steven Toth I was actually able to find multiple carriers who would insure for a slightly higher premium, which I am happy to pay.

The more rentals you have the more risk there is to having a bad situation crop up.