To update, I decided to stick with Atto.

A 75LTV Cash Out on that deal would be about the same and there is no lender origination fee, only the $1600 UW fee.Ohio has recently updates some of it's laws in terms of PPP. 

Good luck and keep us updated, I will have to do this one day so it would be nice to know!

You'll need to be very careful with your renovation budget and timeline.Your renovation estimate of $120k-$150k seems reasonable for adding a bathroom, redoing the kitchen and existing bathroom, closing in the garage port, and doing cosmetic updates.

(We would have previously updated the mailing address for the loan so the check comes to us, not the borrower!)

After some back/forth, I decided to step away from the BR market (sorry, I'll update my post.

**Insurance Issues**: Ensure the property insurance policy is updated to reflect the change in ownership to protect both parties in case of damage.3.

A little context: the building is structurally sound and they have done major updates such as septic, generator, and sprinkler system, and all mechanicals are recently inspected and tagged.

Nice places in the $250-350k range then several in the $150-175K range that either look updated or like it needs to be renovated.  

@Mindy Jensen and @Kevin Leahy I'd like to come back onto the podcast to give an update on the lease option model and how we have switched up that model to what we call the floating lease option.