Here in the USA you need what's called a "construction loan" and it's also very hard to find a company that will insure you if you're a newbie.

We bring/offer the mortgage loan investment to the group & handle all the servicing, including chasing the monthly payment/insurance/taxes, foreclosure, etc.

Here are the key numbers:Potential purchase price: Mid-$400k rangeAppraised value: Estimated at ~$500kRehabbed comparable properties (comps): ~$580-600kMonthly PITI (with 5% down, including mortgage insurance): ~$3400First-year PITI (with 2-1 buydown): ~$2900Monthly income (after taxes): ~4-5kLiving expenses (utilities, groceries, etc.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.

Consider putting the property up for sale and get your life back on track, then try investing again.

I was studying the market and my rent will be just enough to cover the mortgage and HOA fee now I might to pay out of pocket for insurance but don't want to sell it yet because the area is growing and might have good appreciation in the years that follow.

If you are building on your own existing lot, you are sacrificing privacy for sure, but if you are comfortable with that in this stage of your life its a good way to maximize what you already have than trying to go to market and spending over $1M on a decent duplex. 

@Alex Schumer I see that your new to real estate - congrats in this life changing journey.  

(Please don’t tell me you will lend anonymously to those you met here or on the web).Title/Fire/Hazard Insurance Requirements: Not part of this list but what will be your insurance requirements?

Knob and tube is very difficult to insure. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).