For example, State Farm typically requires the latest inspection report for underwriting on multi-family properties that are over 30 years old.

@Serge Hounkponou Recommend you first figure out the property Class you want to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

We typically see FICO scores in the 560-620 range for Class C, below 560 for Class D.Recommend only looking at convictions & evictions in the last 2-3 years, ignore older ones.Focus on the last 2 years of employment via YTD paystub and 2024 & 2023 W-2's.

I typically focus on off-market deals, so I didn’t work with an agent to find this property.

Investors typically want to stay within the original budget.The only way to do this is to stick to the plan and avoid COs!

I wouldn't think it would take a private lender (which is much higher priced) than a typical mortgage broker's rates.Is there a reason you think you need a private lender?  

All too typical park owner who took all the profit out of the park without reinvesting in the business then wants to sell you the potential he was too cheap to invest in. 

How much upfront costs are typically involved in a project before you know if it's a viable project to pursue? 

Meaning, the bank wants to see that a property cash flows for typically one to two years of tax returns before they count it as income. 

Both these 2 are not easy to do, and typically take expertise, experience and or capital.