Thank you for the detailed explanation! 

If the Appraiser chooses to include converted living spaces as GLA, the Appraiser must include an explanation detailing the composition of the GLA reported for the comparable sales, functional utility of the subject and comparable properties, and market reaction.”I am a layman on this matter, nonetheless this is my interpretation: Unless this "4th Bedroom" has a permanent heat source, is completely finished out according to spec with the house, and comparable to neighboring properties with finished basements, then there is a good chance it will not appraise.

@Joe Villeneuve thank you for that explanation

If you need any explanations shoot me a message. 

I'll adopt "The Scarface Solution" (I'm not copywriting that - feel free to use it in future explanations) and get the money first.

Happy to share my experience:I was looking to diversify geographically, and though maybe a small ($100K) property might be a good way to test drive Roofstock.

They are geographically the best locations for college students but they are incredibly saturated with rentals and prices are through the roof - 400k/ unit for 2 beds.

That's definitely a good way to gain some momentum in learning about the geographical area as well getting to know the community. 

He's gone dark on me without providing much of an explanation, and I cannot seem to figure out why.

I think, that while you may be right in your observation, there are more rational explanations...The reason, I would suspect, for the fundamental difference you are sensing goes back to the fundamental difference in the investment vehicle itself.