If not, are there non-construction options that would be a better return on investment?

So there are several good options here in the Ohio market. 

So I plan on going with the FHA 3.5% down and hopefully going for something in the 3-400k range in a neighborhood like back of the yards, mt greenwood, south shore but also open to other options.

(I told him we have other options, but I would rather that he gets to make the profit instead of the bank.)

Hello Rahul, When it comes to DSCR loans for STRs, there's a variety of options available.

I have been successful getting ROW and actual city streets abandoned and removed. what needs to happen is everyone who benefits from the ROW has to sign off if that cant happen then it wont be removed.. the property it serves you cant leave land locked either .. dont know your situation but its worth exploring. 

Seeing a lot of success when people have an unemotional optionality for the project and simply run the numbers when the project is complete - put it on the market for sale and for rent and then plug it into a pretty basic spreadsheet!

If you are looking for a generic 80-90% of purchase to fund with a good FICO score for a normal 1-4 unit, you don't need to spend too much time on finding lenders as you have plenty of options.

I will explore my PM options and ensure I explain the fact that the property may need “more attention and TLC” than the typical property.

Going to be very different cash-out refi options depending on the type of building/tenants