We were recently notified that there is a water line under the back yard of our to-be built house.

The best source of funding is subjective because it's going to vary based on what's important to you.Do you care more about the terms?

Max LTV should be 75%LTV based on the basic factors, credit & DSCR. 

I suggest doing a market analysis based on what the property WOULD BE worth when the project is completed.

New water heater.

New permitted water heaters.

My challenge is that if I move out and rent my current home, I think I would realistically only be able to rent it for $1,700-$1,900 based on other comparable rentals in my area.

New metal roof & gutters, new covered porch, new side deck Trex material, new large capacity water heater, new Bluetooth thermostat, new sump pump, new HVAC ducts, new HVAC lines, new LED backlit mirror, new electric wiring for entire house, inspected and up to code, new plumbing is all PEX line plumbing, What made you interested in investing in this type of deal?

New water heater.

Hi Drew, I haven't hired the wrong property manager, I have met a lot of them and based on their offerings and there personality have been turned off by many of them.