@Darnell Hunter Welcome to BP, and congratulations on making the decision to invest in real estate.I feel that credit scores are reflections of an individual's habits.

Most investors use cash or hard money loans to fund the purchase and rehab, and then once the property is habitable or rented they refinance to a DSCR loan or conventional mortgage with a lower interest rate and longer term.

If the property is habitable and you have cash to update it as you go or immediately, you can now get a conventional loan (without a rehab loan component) for 5% down with 2-4 units. 

I am a fan of Seven Habits. 

If you don't want to sell, then that leaves renting it out.The lots aren't worth much as no one's building in Detroit without government subsidies.You should be able to look on Zillow for rental comparables in the area.You may also want to consider hiring a Property Management Company to handle it for you, so you might want to read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesAdditionally, don't treat property management like a commodity and just focus on the lowest price!

Additional fees for FHA consultant may be needed and interest rates are usually a bit higher than standard FHA or conventional financingBottom line:  If you have a property that needs work to be "habitable", or if you are just looking for a way to roll rehab costs into the loan easily - these are excellent products that will allow you to do so with very little out of pocket. 

I get that inflation may get a few people to change their vacation habits, but ours are places where people with more money would stay.This is probably a case-by-case deal where everyone will have different results.....

They can assess the existing structure and advise you on whether it meets the necessary safety and habitability standards.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.