I'm based in California and have other customers with out-of-state properties in Ohio. 

Based on your experiences, would you recommend contacting a general contractor or an architect for this project?

AAR:Average annual return based on the hold period.- -Keep in mind, when a sponsor shows a potential investment:- These are always projected returns, NEVER guaranteed.- Returns are based on the assumptions in the underwriting model (trust but verify)Which of these return metrics is most important to consider for a real estate deal?

Santa Rosa Beach is more of an appreication based market of 9-11% and typically cashflow for 4-7% cash on cash return on rentals. 

I'm Megan, a Realtor based in the beautiful Bay Area of Northern California.

Quote from @Matthew Kwan: You can either go towards DSCR where it does not require to use your income to qualify, where it only looks at the performance based of the rental property in a metrics of ratio.

I always run credit as a the last step in the application process but that choice is based primarily on my location and California law.

Taxes are based on the land and home, so it would be higher than if it was on a single lot, but the double lot also opens possibilities.

Based on the numbers you've provided, this deal seems to have solid cash flow with the Section 8 rent at $1,274/mo and your monthly obligation at $697.08.

Based on latest report, our inventory is increasing higher as usual as well for january.