Over the past several years it has seem there have been more and more options.

Cleveland almost seems like the best option because of the affordability and rental demand, but worries me due to the high property taxes and lack of population and economic growth.

@Susan Tan you may also have lending options in the Houston area that offer 100% LTC financing for rehab projects.

Having the info will help you weigh the options and make an informed decision.

LLCs tend to be beneficial for financing options if using hard money as it can be required depending on the program.

Just trying to see what is the best option. 

Hard money lender/DSCR - both are good options.

I know there are a lot of options, especially since they are family and willing to carry the loan. 

.- Suggest you try to network with other landlords in your area, check MeetUp app and others.Your other option is to hire an attorney, but understand you will have to pay them for your ignorance.

Alternatives include seller financing, a lease option, or using an LLC or trust to structure the deal while maintaining tax benefits.