The best option would likely be a construction loan, which can cover both the purchase of the land and the build.

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However I am wondering what I need to have in addition to cover repairs and others things that I may not be considering.Any advice and recommendations would be much appreciated!

If the rental income from your condo can comfortably cover your mortgage and leave you a little profit, moving out might make sense.

This is after covering all expenses and setting aside a certain amount for reserves to cover future expenses like capex or vacancy. 

Adding mass to the walls works wonders—attach Mass Loaded Vinyl (MLV) to the shared wall, then cover it with a layer of 5/8” drywall using Green Glue soundproofing compound for extra noise-blocking power.

Additionally, they made the argument that, as a large company, if something went sideways with an investment, they would cover the losses.

If the insulation is in decent shape and not covered by combustible insulation, and not terribly overloaded, it might last many more years.

Hey Sean, Thanks so much every day is a day closer to it happening while covering the investment as much as i can. 

At $2450, it will cover those expenses.