Does that include any utilities? 

That does not include any capital expenses. 

Lots of other services are included at no cost (advice, doc review, debt collection letters, etc). 

Could someone explain that to me or if there’s anyway to deduct those expenses.Not sure how we can explain it, because you already included an explanation in your question.

THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel.

However, does that include people who wouldn’t qualify?

I am being told by these lenders that I need two years of rental income included in tax returns for them to not use 75% of the rental income per the lease.Essentially no other debt that could help reduce the DTI.

One thing in real estate and probably most other businesses is that most people including me don't know how to measure and evaluate risks.  

Typically this takes 6–9 months, including 2–3 months for permitting and 4–6 months for construction.You can browse their current plans online, with design costs ranging from a few hundred to close to $2,000: ADU Fast Track Plans2.

His reason was the only thing he knew to do with the proceeds was to loan it back out at 12%, and he would be "behind" where he is now in cashflow.His proceeds would have given him options up to and including PE, but he is a simple man and in his case holding was the option for now.