Yeah it's complete horse ****.

It would cost a lot to get the planning approval and do a complete renovation of the 2 units.Can anyone suggest what would be my options at this point?

Another option is a hard money loan to cover both the purchase and rehab, which can then be refinanced with a DSCR loan once the rehab is complete.

Complete renovation.

Here’s a breakdown of some of the information you may need to provide for a cost segregation study.For existing buildings:List of equipment on the propertyProperty settlement stateAny appraisals or purchase/lease agreements Property maps or blueprintsSchedules, change orders or documents for future renovation plansSupporting documents for calculating real property book valuePrevious purchase price allocations that separated assets into their appropriate allocation and valuePast site inspections and photographsDocumentation that proves or records deterioration of assetsFor new construction:Contracts or contract paymentsLand and property sizeBlueprints of projectList of equipment involved or purchasedList of projected costs including costs for land developmentApplicable site inspectionsConstruction schedules and payment requestsPhotographs of completed assets or work in progressCost segregation specialists typically have an organized plan for the collection and analysis of the information provided.

Quote from @Jaycee Greene: I completely understand and I'm sure my fingers are a lot fatter than mine ;-) If you only borrowed $155k, I assume you did a conventional bank or credit union DSCR loan, is that right? 

., quick work order completion) and team-based success (e.g., overall portfolio stability or income growth).Be cautious when setting pay expectations.

Even with a W2, it's completely doable with the right systems in place. 

House clean just completed 2/19/25 and will sell ASAP for $95k.

So you're not completely anonymous.