Has anyone ever used them or a similar external funding source?

This "turn around" would need significant DD that would include evaluations external (uncontrollable) and internal (controllable) to the property in order to simply determine what would be a reasonable occupancy rate, and at what rent level.

You'll see the external factors that can effect price and you can't tell that by looking at a map or computer screen!

No idea where you are from but we will often blow out the external wall.

Why not just call a locksmith to rekey the cylinders on the external doors?

From there I would do external views, you can tell a lot just from the outside of a house.That will greatly narrow down the possibilities.

I've also assumed an equal cost for unit #4 as my current rent, as I am going to move into this - if I rented it out externally, I would predict $1200 -$1250 in rent based on comps.ExpensesI'm assuming all other expenses are in the mortgage.

Building inspectors are MUCH harsher on commercial buildings than a homeowner doing a little work on their own house.

Side note, house does need some external work as well that will need to be done sooner than later.

Let the contractor do the external inspections and give you a quote on what needs to be fixed and have the property manager walk each unit and create a condition report along with estimates to fix items.