While the leverage may be lower, banks typically offer fixed-rate options instead of adjustable rates.Remember, each property tour is an opportunity to gather valuable insights and make informed decisions.

Raise the price back up and advertise offering rate buy down.

Also, I hear that Ohio has pretty good returns based on purchase price and rental rates. 

I would call the city/town and ask general questions...wouldn't tell them you own some non-permitted ADUs.Find and attend some real estate networking events; maybe you'll meet another person who has dealt with this kind of situation.If you have the funds, you may want to talk with a local real estate attorney and see what they advise. 

After you have a contract at the numbers that work for them, they will fund acquisition and rehab, take the risk, and split profits on the backend.

Many local groups will step in to find and fund "first time etc" qualified hard working homeowners though, find great tennants to get in your units if you go this route, & set it up correctly.If states like Indiana are pushing that they are "tiny home friendly" (in that case I've heard of the log cabin law, but don't necessarily know if that's directly applicable to community-scale developments).

Project like this is a year at least right. cost to sell and carrying costs land at todays HM rate 12 % thats 120k commish                                       200k so maybe net 750K or you think you accounted for those in the  2 million ?

The remaining principal was about $450,000; the stated interest rate was 11%, and the note had 8 years to run with a balloon.  

@Adriana Siu if you can get $3500 cash flow and have a low interest rate, it should cash flow well.

Dan - I'm not buying in DFW, but I am underwriting with 0% rent growth the next two years and then growing out my rents and expenses at the same rate in outward years - typically at 2% each.