I would go to an insurance broker and see what options they have.

I just saw the part about FHA not being an option. 

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

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

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.)

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

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!

I use a maintenance service for the hot tub and while that cost is a factor in pricing, we don't submit that as an extra charge to the OTA platform although it's a service).