Additionally the renovation costs are going to be higher as you have to re-draw the floor plans a bit (and add in sprinklers bc its a four fam) but the great news is that you would be able to finish the attic to create larger units on the second floor and get more rents.

Tenants with bad credit know it and are expecting you to ask for a larger deposit.

This had nothing to do with economic or underwriting issues but was driven by covid and many workers beginning to work from home. 

If it is a larger bank/mortgage broker, you should be fine. 

Currently I own a large real estate company and still get some great value out being in his inner circle of real estate operators. 

We had one where they wanted us to pay for the majority of the costs to replace 1 mile of sewer back to a larger main.  

@Philip Beckwith, I disagree with some who think this should only be attempted for larger gross errors and also that you need to hire a company to do it.

They have larger offices with more agents to network and learn from, training meetings, etc. 

Hi Rory, Welcome Home BP!

@Sang Kim- thanks for clarifying you are trying to get a commercial loan ...this is a  completely different product than a home loan ...You still should be able to  locate and obtain a good commercial loan  without  having to pay any fees upfront  ( other than possibly paying for the appraisal after the  loan has been  approved )