@Terri-Leigh H.can you breakdown what your costs are to furnish each bed and additional furniture, furnishings cost are for a 5 bed property. 35k seems high compared to what we have encountered.

Depending on how you have things set up, there are lots of great options! 

Build mobile home on the vacant lot I understand the cost involved for rehab the existing house.  

Additionally, this same lender can run the numbers for you on taking out a HELOC on your primary to see if all costs are covered from your investment property. 

Additionally, Parma's proximity to Cleveland enhances its appeal, offering easy access to urban amenities and employment opportunities without the higher living costs associated with larger cities.

Louis offers affordability, cash flow potential, and emerging market opportunities but also presents management challenges, unfamiliar markets, travel costs, local regulations, and crime rates.

I can understand the desire for new but isn't there a large land cost relative to the value of the overall home?

@Daniel BryanI agree with JacobBetter returns elsewhere and downside is if your borrower defaults depending on the state it could take years to foreclose and run all that legal and holding costs which wipe out any gains.

What @Tim Baldwin said.Otherwise, spend some time figuring out how to edit your existing lease to make it MTM.FYI - our company lease is setup to be ANY lease length by just modifying the lease term.

Hi Riyanka, I am don't have any contractors that I could recommend, however I would be able to assist with getting you set up with a lender who can provide the purchase and rehab as well as the cash-out when rehab has been completed.