If what you say is true, I know my base fee would be roughly half or a third of that for your situation if that helps to give you perspective.To speak to the other posts in reply to mine, I appreciate the clarification.

Typically Conventional will end 42% of DTI and FHA can get up to 51% DTI (and based on your credit score I think you should stretch to that 51%) Just a few things to start thinking about as you are working through the process. 

It did not make a loan, so that is false advertising, and the contract, which is the the mortgage, is based on fiction, otherwise known as fraud. 

However, while I was still getting contractor bids for different projects, I found 3 different companies that are quick (based off of their contracts and guarantees) and have good quality of work (based off of previous and current investor feedback) but come at the cost of price.

Then adjust based on both your and their view of the world.  

DSCR loans let you qualify based on the rental income of the property rather than traditional income verification.

Also, note that it is hard to accurately judge an area from afar based on exterior physical characteristics.

With VA loans, you’ve got a huge advantage to get started with little to no money down, and military bases are perfect for long-term or short-term rentals.

The reliability of this method depends on if the costs provided by the contractors or subcontractors were based on actual costs or estimated costs.

My largest concern based on the marketing package is the value add I can bring to the property, and the HOA fee's which aren't apparent in the marketing.