I'm in desperate need of some guidance or reassurance at the moment.

The realtor is making commission on the lot which is now under contract.Points to consider - we have a sales team and process that doesn't require realtors, but usually work with them on land deals. 

The property does require some serious updates, but it definitely has good ARR value based on the money that I paid. 

:) To follow up on our conversation, each DSCR will have different requirements however I am not seeing an issue with you not having personal rental history so you should be good there.

@Hayden ClarkChoosing the right real estate strategy requires careful consideration of your financial goals, risk tolerance, and lifestyle preferences.

I absolutely understand the value of having a property manager but this is not typically or normally the house or the type of situation where one is required.

Standard financing would require 20%-25% down and that's hard enough! 

.- ask your lender what  amount of insurance is  required 

If the unit is under 500 sqft, meeting fire code, and a few other small requirements, it should be very easy to build these homes. 

My ultimate dream is to become completely financially free by the age of 40 so that I can have all the time in the world with my family and be the dad who is physically present that they will so desperately need.