Option 1.

I believe in putting in the work—1,000 hours of research, testing, and learning—before offering advice, and I’m excited to tap into the collective wisdom of this community to refine my approach.Here’s where my head is at: I’m considering strategies like short-term rentals (Airbnb) for higher cash flow, long-term rentals for steady income, or even creative options like house hacking or partnerships to stretch the funds further.

My two favorite loan options for getting started are the FHA 203k or the Fannie May Home Style. 

I'd be happy to discuss whether or not this would be right for you if you're interested in a lower-interest option vs. a HELOC. 

Your home needs to be in good shape (sounds like it is) and very competitively priced in order to have the few looking choose it instead of another option. 

Obviously the numbers and location would determine which is the best option for me but these would be my preferred methods. 

If they Counter, you have the same 3 options to respond. 

We estimate the project will take less than 3 months to complete.I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.Thank you in advance for your insights and assistance!

Albany, Syracuse, Utica, OH, PA, etc.) for cashflow.The challenge in these markets is that demand is through the roof, and many properties either sell at the asking price or above the asking price (Suffolk's sale price average was 1.5% ABOVE the asking price).If I were in your shoes, I'd explore local and remote multi-family options before considering the mid-term rental route.All the best!

The midwest has great options - Indiana, Michigan and Ohio has lots of great sub markets with good cash flow.