For example, if you are buying in an area that is in are 1980s and above, you might run into a roof that is tile and the paper under the tile needs to be replaced the day you close.

Prioritize renovations that add value and create a timeline for the project.

This is our "8 x 8 project" - there, I've said it out loud to remain accountable! 

If all in around $435k, wouldn't she need to leave money into this deal with a projected ARV at $500k?

Currently I work as a Project Supervisor, we do rehab in multi-family units.

In my experience, making on-time payments and making it clear that they are the first lender I am calling to fund a project have been necessary to building a strong relationship fast. 

I just added solar to the project this year.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

I hopped on the roof with the garden hose to defend the property (even though initially it was contained) when suddenly an ember spread to a palm tree (that had been neglected to be trimmed for years) that instantaneously atomized/vaporized into hundreds of embers and spotted fires on several homes.

Right now the only utility at the garage is power so basically I am starting with a frame and a roof.