Beth, I strongly recommend Aleka DeGraaf from Acorn-Oak.

Will my depreciation be based on the purchase price or what it is worth now?

@Kaleb Phillips an agent promoting their industry, no surprise.Problem with it, is that agents are transaction based. 

DSCR financing is based off of rent/PITI and your credit score. 

The builder will need to be approved by the Bank/Lender or the bank/lender can provide you an already approved builder they have used before in that County.Once the builder is approved the Bank/Lender will have a initial meeting and set up an agreed upon draw phase based on the work that will be completed in phases.Best thing to do is have a conversation with a seasoned Banker or Loan officer to start an application and set up step by step plan.Feel free to reach out if you have any questions I am always happy to help and talk REI.

You can only fund it with rollovers from other qualified accounts or by making contributions based on your earned self-employment income. 

If you have a very strong STR market and are in peak season you could generate quite a bit of revenue in a couple week gap between MTR guests.

.🔍 Due Diligence: A strong team conducts thorough due diligence, leaving no stone unturned.

I lost my government job that paid poorly about 5 years ago and there was virtually no stress because my finances were so strong. 

Have strong policies and procedures (and an elevator pitch for each) when someone asks you how you operate.