Perhaps it's worth reflecting on the real value of your contributions here. 

If you have to buy it as an investment loan and then refi, make the terms reflect that.

They apparently do not have time to verify permits (under what criteria units were added or that the work was even done with a permit).To the OP, I fear your property will consistently appraise low when obtaining HELOC or refinancing and that a re-appraisal will not reflect what you are seeing of homes being appraised with an agreed upon negotiated selling price.I am not saying this is the way it should work. 

You can average the amounts or use the higher $29,000 figure if it reflects market conditions, as long as you document your methodology and provide evidence, such as sales data or an appraisal.

Selling property for much higher than what a licensed appraisal would come in at moves the transaction into fraud territory.Note/lien = sales price - cash downAPR: fair reflection of riskIf APR is high => "high cost loan" under CFPB => appraisal and inspection become MANDATORYAnything less than this...that's your butt on the line.

If he lived in the same place for four years, that should reflect on his credit score.I think you've found enough red flags to justify denying them.

So your price needs to reflect that.

Over the past few weeks, I’ve been reflecting on my future goals, particularly my path toward financial freedom.I’m 22 years old and just got my first credit card two weeks ago, so I don’t have a credit score yet.

In regard to high fees and weak returns, I think that's more of a reflection of the fractional companies in the market today which screams opportunity. 

In short - here are the reasons I pivoted to Real Estate Investing:All the benefits of Real Estate + growing STR optionsInflation raging at 10%/moCurrency wars and what or who will win them (Prec Metl or CDBC, etc.)Equities markets receive derivative pressures from credit markets and pressures on US dollarRealistic 10+ year opportunity in using Creative Financing, given monetary policies.Global disruption and impact analysis of COVID to businesses (small/large) and individualsWhat I was (originally) looking to get out of the program:Better understanding of Real Estate and it’s MarketLocally like-minded ppl that are more about collaboration than cannibalization (not reflective of BP in any way – this community is great too)Improvement in comfort level working in REI and learning “on the job”A community where I could find deals, connect with ppl for help and ask questions, etc.Business and Corporate Structure recommendations to accommodate short-term & long-term investment strategiesAnonymity strategiesAccess to vetted contracts for traditional, creative and gator (EMD) Real Estate dealsMy experience and feedback based on my expectations:Great original 6 week mentorship program.