This includes getting comps or an appraisal to verify value, lenders title insurance,  a proper note and mortgage,  and you must be listed as a mortgagee on the borrowers property insurance policy.Our lending criteria in our lending business caps our loans at 65% of the after repair value and we control all rehab funds as we hold them in escrow. 

At least with FHA the appraiser has a little control over the house. 

The value on appraisal also came back much higher than expected. 

When I got the appraisal during closing, it appraised for a little higher than what I had offered so I was feeling pretty secure about the purchase.

We can lend under 100k as long as the property appraises 100k+.

But we do have a few duplexes, four units, and townhomes in the mix that skew the appraisal values and per-door numbers. 

We bought for 200k I know there is a good bit of equity but didn’t get appraisal (~350k).

. $75K is the lowest allowable property/appraised value I've seen for DSCR.

Since I don’t own the home until after I close on it, I would need to pay for a rent schedule for appraiser to calculate the average rental being charged for the area in which I'm purchasing.

The appraisal just came back and I’ve got instant equity because the appraisal came in higher than my purchase price.