Here's my take on the decision:First, let’s look at the pros and cons of paying off your current short-term rental (STR):Paying Off Your STRPros:-You Eliminates your largest fixed expense (the mortgage), which increases your cash flow significantly.

Employment Growth Outpacing Housing SupplyBuffalo leads the nation in the ratio of new jobs to new homes permitted.

If the proforma has the rent roll at $1400 a month, there is a discrepancy that could lead you into a bad assumption on your business plan.Also one caveat, be aware of physical delineations around the area like bridges or railroad tracks or a canal. 

My suggestions would be in this order:(a) Determine the type of financing you qualify for - this will short cut the process considerably and save time on investment angles and next steps.

You can learn to do this independently or get a rockstar REALTOR to lead the way.

There are many other sites you can list on if you are going for Insurance Bookings but in my markets or at least for the inventory I have, it hasn't proven to bring many leads. 

Adding in the layer of not being on the loan but holding title just sounds like it will eventually lead to problems like OP experienced.

In short, by listening to your clients and providing a great service, you will make a profit. 

Sellers often favor buyers who can make larger down payments, as it indicates stronger financial backing and reduces the risk of the deal falling through due to financing issues.Additionally, SFH properties are more accessible to a wider range of buyers, including first-time homebuyers and families, which can lead to less direct competition from institutional investors.

Does any one have any leads on lenders who provide loan for groundup constructions and the criteria?