It is more expensive but may not require an appraisal and can close in a couple of weeks. if I can wait then I use the most competitive rehab. lender after obtaining multiple quotes. 

Do you have cash reserves for capital expenses and improvements? 

I am looking at this from the LP perspective, because to the GP, equity is the MOST expensive form of capital.

Maybe they have something similar you could try to get at least more information about the bill or other expenses. 

There are less expensive hard money lenders out there. 

The LA fires will drive rates up for everyone and is now a major line item expense.

@Ed Lopez our thoughts:1) $65 is average hourly rate for handyman in Metro Detroit.

[I think someone else provided an example of this case earlier]-Now provided you do qualify for purchasing a house (4 units or less), you will have no problem qualifying for a mortgage with a Schedule 1 bank as long as you provide the down payment (35% minimum of purchase price) and confirm proof of fund and the source of it- On the proof and source of funds, the banks would want to see an income enough to cover the mortgage payment and other expenses. and in some cases, they would want to make sure they know how you're going to cover your expenses (housing, heating, etc..) where you live.This is usually where it gets annoying for some folks but if you can satisfy this, you should be able to qualify for a mortgage just likely any Canadian tax resident, albeit you will pay a little more in terms of interest rate, etc.

Denver is very expensive for a new guy who doesn't have loads of capital so a market like Missouri for example is intriguing for far cheaper real estate but then Id either have to move, improve the property remotely or simply buy and hold as a rental for X time. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).