Right now with the feasibility study We're anticipating about $4,000 for the SFH and $2,200/mo/unit on the ADUs, totaling about $10,600/mo in rent revenue so the initial rents look great.However, I don't know how the loan will play out.

I answered an initial questionnaire on the website and there’s basic documentation required but it doesn’t appear to be nearly as extensive as the requirements for my conventional loans.

Initially I had a feeling you didn’t really know what you’re talking about but now it’s crystal clear you have no idea what your saying and you are more than likely just another misleading , Detroit PM nightmare like 99% of the other PM’s in Detroit with all sorts of hidden fees, secret add-on’s who work against the tenant rather then with them so they end up vacating and you guys salvate over another nickel and dime placement fee.The question ‘why’ in your first comment has absolutely NOTHING to do with it I am simply sharing my experiences.

The seller was a foreign landlord who was behind on a few years of taxes, and the property was in C5 condition at the time of initial appraisal.

I initially looked at doing a 1031 exchange of all my Indianapolis properties but the timing would have been difficult.

In spite of all that work we discovered that the hot water heater didn't work (they didn't bother to replace a $300 water heater that their initial 4 point inspection stated was original to the house (1983).  

Most hard money lenders will cut the initial loan amount on the purchase, if the rehab is self funded/financed. 

I typically fill my vacancies in the initial open house asking at the high end of market rent.  

My realtor said that initially he thought the ARV for my building would only increase by about $60K but that if I held over the long term eventually I would get the value.

I know which product that you are referring to. the conventional mtg product has the following features. 1. minimum 15% down payment 2. 30 yr fixed term 3. rehab and repairs can be included in financing 4. borrower can be a first time investor. 5. no prepayment penalty. 6. the contractor will receive an initial draw at the closing table. 7.