Preferences - safe area with good renters and may be some studentets for my wife -piano teacher.

This enables themto stay where they want to with the added benefit of having us close to themas they get older to help maintain the property and essentially allowing mywife and I to have a larger area for the horses.Since the property burnt down the current owners can obtain permits to buildagain very quickly and very cheaply but if the property were to sell the newowners would have to submit for permits as if there was never a house there,thus saving potentially over 100k or more in permit fees.

This enables themto stay where they want to with the added benefit of having us close to themas they get older to help maintain the property and essentially allowing mywife and I to have a larger area for the horses.Since the property burnt down the current owners can obtain permits to buildagain very quickly and very cheaply but if the property were to sell the newowners would have to submit for permits as if there was never a house there,thus saving potentially over 100k or more in permit fees.

Are there any loan options I could take out against the property that would enable me to both rehabilitate the property (200-220k) and pay off my debt (80k) at the same time?

@John Thedford  I always wondered how a letter that spelled out the subtrifuge in direct mail marketing would fly.IE:Something like this.High  Home owner  ( it could go two ways one with those that actually have ability to close and those that are just acting as real estate brokers  IE a wholesaler who only wants to assign)ANy wayAs a high equity or absentee landlord in this area you going to get a lot of direct mail from those wishing to buy your home.. keep in mind many to most have no ability to do it.. they are simply acting as unlicensed real estate brokers they want to tie up your property and try to flip you contract for a fee.to enable them to do that they have to get a REALLY good price on it.. far below market value. its customary for these letters to have all sorts of different methods as in fake handwriting.. to little letters that looked like a 4th grader wrote them.. some will go on about how they just want to help.. ( if your in foreclosure most will say they were there before and just want to help)So to be brutally honest  I am a buyer ..

Technology advancements such as email, phone calls, skype has enabled communication with a remote CPA to be seamless.

Never do they ask 'If this plan I'm paying so much for is so foolproof, why isn't the teacher out doing it themselves?'

in his podcast and youtube videos he mentions teachers, firemen, police officers , nurses, etc are his tenants. 

Technology advancements such as email, phone calls, skype has enabled communication with a remote CPA to be seamless.

It is time for us to force a judgement or two in Michigan to stop the Government overreach that these registration, and inspection ordinances enable.