For my clients, I like Easy Streets bridge purchase and STR DSCR programs. 

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

Jillian,You can solve two problems with just using a DSCR program to refinance pull cash out and then close in an LLC. 

Wondering if there are any gotchas or anything to be aware of when using this program. 

I am not familiar with this exact DPA program.

A lot of DSCR programs I'm familiar with don't cut back LTV like that until you get to 5+, generally 1-4 units are classified together with maybe some kind of rate adder for 2-4. 

Quote from @Jason Wray: Yes, you can use an FHA 203K program or even convert it to Fannie mae and use a renovation loan if the LTC/ARV allows.Cool thanks for the info!  

I second @Erik Estrada Chase offers great programs for business, multifamily, and conventional loans for commercial properties.

I requested my funds back and they just sent pictures of their no refund policy.I tried watching their tutorials to learn the program but none of the buttons existed that were described in the tutorials.

So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).