The question regardless of what market you're in is: "How do I add value?"

I don't know your knowledge level or background, but if you're new to this, you'll definitely want to do some reading and learning around how yields, IRR, bond pricing, and time-value of money work to have a conceptual understanding of what's involved.

Alternative income options are available but will reduce the maximum loan to value. 

I am happy to connect; my value adds are mostly for distressed investing, flipping properties, real estate agent work on the aforementioned and building custom homes from ground up.

I work with out-of-state clientele from the east and west coast who love investing here for cashflow and appreciation.

The 4 bed vs 3+den designation won't have any effect on the home's value, or the rental income.

We are buying everything we can in parts of East Cleveland, so many say we are crazy, well that's what they said 7 years ago,,,,,,,, LOOK at the values now :)

How did you add value to the deal?

The home is only worth about 85K so I’ve had a hard time finding a lender willing to work with smaller loans or smaller appraisal values.

I'd like to add a legal bed and bath down there to get higher rents and bring the property value up, so that I can refi and get most/all of the money back that I use on the updgrade.