That said, weigh the cost of renovations against the potential increase in appraisal.

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.

@Chad CutshallI can't answer for them, but their website doesn't indicate that buying/reselling notes is part of their business model.

Which could be an open space Medical Equipment rental business, down to a Dentist's office with multiple room utility hookups.You're going have to vet this to a lower level of discussion anyways. 

Every loan and bank will have its associated fees and cost as its the price to do business but if you see more leverage in tapping into existing equity that could very well be the case.

We liked the idea of partnership on a bigger project with the specific MTR strategy in order to increase NOI and exit in 3-5 years.

FYI, a Cost Segregation Study will "not" increase your chances of an IRS audit.

I have experience with this business model. 

If millenial homeowners can't even change their home's air filters, or snake a toilet, or change the oil in their car, that's guaranteed future business for HVAC companies, plumbers, mechanics, and those places all need a place to conduct business in.The commercial mortgage pricing software I use has somewhere around 50 different asset classes in it.

I personally used business credit cards to BRRRR a deal—no money came out of my pocket.