I assume you have to do that for vacant or occupied homes? 

I have not seen the inside of the place because it’s fully occupied by tenants.

We are currently occupying the upstairs. 

@David Des this wasn't even a construction loan, it was a straight up cash out refi from a house I did a renovation on using a HML lender, house was completed, occupied with good cashflow and the appraisal came in right where it should have..... 

However I had an interest and tax reserve so I was planning to use the rents from the occupied properties to find Renovations.

A fully occupied property with each resident paying rent ends up being significantly more than the flat rate rent. 

It has been 100% occupied and currently returns a positive cash flow of $1,000.

Currently occupied by a section 8 tenant on a year to year lease. currently paying $1805Cash flow = $800- I left out some CapEx expenses in the report, as this is a newly renovated home, but will account for everything once I dive deeper into this potential investment.

Of course there's a price difference for owner occupied versus investment property.

We are no longer occupying our house starting June 1.