If so can you provide a referral for this lender?

Cleveland is a great cash flow market, but you really need someone who knows the area to provide guidance.   

You're going to want to find a local attorney to put together or provide the paperwork to make it legally binding if they do. 

Save up like your future depends on it.

I am curious if other investors create a business plan or provide other documentation to loan officers?

Depending on what you're going to do with it things can be expensive and add up quickly to surpass your budget.

There’s lots of property managers and service providers that come.

Different requirements depending on the DSCR lender being used.

Depending on the jurisdiction, some will allow, and some will not allow, development in the flood fringe as long as you can demonstrate that the development does not raise the BFE (no rise) or possibly some other criteria, again jurisdiction specific.

@Phillip Rosin - Based on the info you provided, I recommend that you start with a Fix to Rent short term loan to purchase the property and rehab it, followed by a cash out refinance into our DSCR loan.