Most investor friendly lenders also want some sort of track record in property ownership if not investing.

I’m using a personal line of credit to fund the transaction.

I’m talking about 800+ credit score, proof of concept with correct bids for the build and correct ratios, and need for specific niche in the area.

Our credit is just below the necessary number to get a mortgage now. 2 months ago they had a cousin who was going to buy it and we were given a 3 month warning that we would need to find a new place.

Most tenants here have bad credit and they lease because they can not afford a home. 

My mil has excellent credit, 800+, with no debt.Any ideas on how make this happen.Heloc would be great, but the 15 year term makes the payment too hight.A 3-1 ARM would work, with co-signer, as we would refi after the second year with solid rental history adding to my mil's income so she would qualify at that time.Below are some quick numbers for this project$180k - ADU Budget$142k - Current mortgage$942 - Current monthly mortgage$585k - Current Value of home/property (no including basement refinish or ADU/Garage)$1800 - market rent on ADU$500 - current walkout basement rent ($1200 market)$2200 - mil's fixed budget (PERA retirementThoughts?

So figure 4 to 5k is what you need to offer a lender up front and an interest rate for a low balance loan.. or just get friends to do it or put them on a credit card.

Say I get a MUCH smaller track of land to sub-divide.

I met a potential tenant yesterday who balked at every requirement (extra rent for his pet, paying for the credit check/background search, online rent payment).

Same general rules apply in that the assessment value needs to be there for the property as well as your general credit history.