This meant I couldn’t pursue the driver personally and had to rely on their car insurance, which settled for $25K—their maximum coverage.Unfortunately, the crash added $77K in unexpected costs, including $41K in repairs and extended holding costs.

Would that loan include the renovation costs based on the ARV?

Rookie question here - when you are talking about multi-family, are you generally talking about larger commercial buildings or also including small (2-4) unit properties in this analysis? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

This was in a middle class neighborhood and I get why that is less risk however with apartments increasingly including laundry, I would imagine demand lessening in that location. 

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home I do want to also add that my banker who is the VP of lending and branch manager has been banking me for 30 years..WE have been through all he ups and downs including the GFC were I got almost totally wiped out financially..

Hi Jessica,I think there are dozens, myself included, and many who now have construction loans outstanding.

For me, that includes late fees, the cost of the eviction filing, etc.

We currently own 13 rental properties and have paid off all loans/mortgages including our primary residence. 

Good point - should have included that.