I suggest they contact the utility provider.

I like the mixed approach you suggested.

However, rate would be prime + index + an additional +2% for the shock factor just to qualify, but you can draw the funds whenever you want and just pay the balance + interest vs cash out where you have to draw all the money after closing. 

You don't get things worth having without discomfort- so, if you don't have stacks of cash sitting around, I'd suggest you revisit the idea of house hacking, least expensive, least risky, more immediate impact on your finances. 

Your Lender My suggestion to find #2 & #4 would be to go to the top of this page and click on FIND AN AGENT & FIND A LENDER.

The land is in addition to the $300/sqft. 

@Bobby Dailey I would also suggest small towns outside of Mobile and Baldwin Counties. 

Any suggestions or past experience would be helpful. 

If it’s your first property I’d suggest a sfh, especially if you haven’t managed a property yourself, if that’s the case.

You can use the extra income to pay down debt, save for retirement, or invest in additional properties.Tax Benefits: There may be tax advantages to renting out a portion of your home, such as deductions for mortgage interest, property taxes, and depreciation.