If the use is for a personal, household, or family use then this would be a consumer purpose loan and it's unlikely you'll find a hard money lender able to loan on the property.

CRIME-FREE/DRUG-FREEADDENDUM HOUSING AGREEMENT In consideration of the agreement for housing the Owner and Agent and Resident agree as follows;1.Resident, any members of the resident’s household or a guest or other person under the resident’s control shall not engage in illegal activity, including drug-related illegal activity, on or near the said premises.

The spreadsheet would ask for:Population: 63,011Median household income: $28,164# of households: 24,858Owner-occupied: 14,123Owner occupancy rate: 57%# of people per home: 2.53This is what I've just done to try to analyze this city to see if it's a good idea to jump on some rentals out here through creative real estate means.

I don’t know if this is the best method, but I’ve been searching for similar units (Sqft, beds, bath) and finding the median rental rates to compare my deals to.

The map I attached is colored according to their respective median occupancy rates using our short-term rental analytics tool. 

Look at other listings to learn the median charged for 2bd, 3bd, etc.

I would echo Adam that a $500k budget, while may sound big in some parts of the US, is below median for CA.

For example, one recent news story claimed the median house price in Seattle dropped to $750k.

Hi Omid,  The CT real estate market compared to FL is less overinflated according to most, based on household income vs price. 

You probably want to stay around or just above median home price and that is now at about 219,000 in Milwaukee County.