Nicholas depends on what your ultimate purpose and goals are.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

They generally like to finance the home owner that will ultimately buy the home your build. 

It's my ultimate goal to move to things like syndications as an LP so I don't have to deal with the headache of managing property any more (even through a property manager). 2025 will involve progress towards that goal.

I ultimately believe he comes from a scarcity mindset and does not want other investors in this market competing against him. 

But, ultimately, it could work if you don't mind a low ROI.It could make sense if you look at a lifestyle rather than an investment purchase and you're just happy to cover your costs.

Wells Fargo ultimately turned me down because my specialist was completely clueless in general, and because she failed to accurately relay what I was telling her to her "internal contact" on the phone. 

Some owners delay repairs, underfund turns, and create headaches for tenants, which ultimately falls on you.

I think you would need to ultimately know what your goals are and honestly what your budget is.

Before you make any buys here in Cleveland, make sure you read The Ultimate Guide to Grading Cleveland Neighborhoods.