You might have additional items depending on your market.1. 

And good to know you have dependable contractor and realtor, that is a silver lining

Depending on your goals, budget somewhere around $3k-$5k per room.

Once you complete their application process, they will determine you don't fall under their top tier borrower qualifications and propose terms that are far less favorable.

Depends if your state or local laws have Source of Income as a protected class or not.

My work with Kallimos Communities made me aware of the complex web of factors like geographic isolation, workforce shortages and limited transportation options that make providing adequate senior care in rural communities an intractable problem.

For your due diligence, you can also ask to see the tenant's original application and screening reports. 

@Marc Shin We're funding cash out refis for a lot of our most experience BRRRR clients right around day 91 (to pass 90 days of title seasoning) where we get the process started (appraisal, title, application, etc) around day 60  (plus or minus) when they have the place fully renovated and at least listed for rent (we'll use appraisers opinion of market rent to calculate DSCR). 

It depends!

If you don't provide the information that's fine, but it would be a transparent answer.There are hard money lenders who underwrite to DSCR standards with their own rules, and commercial loans with use DSCR in various  applications.