Thanks for the details on the rental program too.

@William Kwong Great details you provided here, as I was able to take alot from this as I decide on some renovations on a 3 family here in JC.

It never hurts to get re-advised on such things so I really appreciate you getting back to me with such a detailed response.

A total cost of 6.3Mn over 23 units equates to 274K/unit...this appears unbelievably low for San Diego...I'd want to see full development budget detailing hard, soft and financing costs as well as month by month projections showing construction and lease up cash flows.What's the 2.2Mn purchase price for?

My realtor found the city building inspection report which details that the unit needs to be de converted as it cannot be brought up to code.

How much detail are you wanting:In Renovations, this can be anywhere from $30k to $500k, depending on properties needs, scope of work, scale of finishes, access to labor, etc.

I really appreciated his response, and took detailed notes.

You just really need to know the street by street details.

If the lender used your credit report as part of the decision, they should also include details about the credit reporting agency.It’s worth following up with the lender to formally request this denial letter and ensure they’re compliant.

Here's a detailed guide on how to screen applicants: Application Screening Guide