So if the mortgage is $10k/month they want to see annual NOI be about $150k (or at least a compelling story on how you'll get there.

They had maybe two steady goody-two-shoes mother-may-I girlfriends through high school and college before they got married and were cheating on their wives two years after that with the first scheming homewrecker that crossed their path.That's not a price for early wealth-building I would be willing to accept, given the compelling data that exists on the subject.

In discovery they would most likely find the information even on a side note from documents you or the closing company could be compelled to supply.

If looking for a quick build cost in the core metro, may be worth giving them a call. 

The Nashville core is very competitive for finding good deals, however, if you're going to owner-occupy then you can be more lenient than simply looking at the numbers and ROI. 

If you have worked with any lenders or are a lender with compelling options please let me know.

In the spirit of collaboration, I submit for your feedback my emerging investment plan:Markets considered, favored:Favored: Minneapolis - Strong employment, population and rent growth, in addition to what appears to be relatively low and falling values makes this very compelling.

I am new it is kinda a blessing in disguise in compelling me to learn that my tenant and I have bumped heads on a few things. 

Core principals have not changed - Buy low, sell high. 

Something with high execution risk like ground up construction or heavy value add, is going to be much more susceptible to a downturn than something like a core real estate investment that has much lower execution risk.As a conservative investor, at this stage of the cycle, I don't invest in anything unless I can run a recession stress test on it.