Rent by room / house hacking / co-living should deliver significantly higher cash flow than a traditional rental. 

.🔹 Creative Financing – Traditional loans don’t always work for distressed properties.

Are you focusing more on private lending or traditional financing these days?

I understand the crime concerns, but why do you think traditional financing is risky?

There are definitely some solid strategies that work well here, depending on your goals.Are you leaning more toward a traditional STR, or are you open to rent-by-the-room or medium-term rental strategies?

I have spoken to lenders about traditional financing and also DSCR loans.

Quote from @Matt Wan: Can I purchase a property using a traditional mortgage without being physically present for any part of the process?

This would allow us to come to the table with less funds out of pocket on the front end when starting construction.Is the best way to complete the transfer of ownership through a traditional sale registered with the county? 

I have used both Traditional (pre-tax) funds, Roth and HSA.

.🔥 Why Co-Living & House Hacking Work So Well Together✅ Higher Rental Income Per Unit – Renting by the room typically beats traditional rental rates.✅ Lower Vacancy Risk – Losing one tenant doesn’t mean losing all your cash flow.✅ More Affordable for Renters – Competitive pricing attracts a steady stream of demand.✅ Built-In Community = Lower Turnover – Tenants stay longer when they feel connected.✅ Allows You to House Hack a Single-Family Home – No need to compete for pricey duplexes and triplexes!