Are you planning to live in one unit and do repairs or is it all renovated already ?

Typically some terms you might see are minimum 660 credit scores, up to 90% loan to cost (LTC) and 100% LTC on renovation up to $250k.

Share your assumptions below for a tailored model and insightsNeeded: Rent, Rental Growth, Occupancy, Interest Rate, Loan Amount, Property Tax, Maintenance Expenses, Purchase Price, sum of all Closing Costs (including commission), HOA Fees, and Renovation Costs.

Plenty of other smaller companies and projects going on.At $240K you can probably buy cash property around Sherman Denison area. 

You can cut up your 50k into a smart downpayment and renovation budget in the right area.

Renting the Baltimore property first might provide some additional cash flow to support the ADU project.

Basically ask your CPA, etc, about what they recommend, based on your P&L projections, and do that.

Also, there are construction loans that pay for the entire build project including land. 

I'm in search of a mentor who can provide guidance and support as I embark on my first fix and flip project.

Some are easier inspections than others but some turn into larger projects (this can be prevented with better screening in leasing but we inherit bad tenants or poorly ran previous property manager problems often).