If I am spending 75k or greater on renovations I want to make sure that I have plans and specifications detailing the quality of the materials and the fixtures.

Leverage Market DataUse data-driven approaches to adjust your offer strategy: Comparative Market Analysis (CMA): Constantly analyze comparable properties in your target area to understand market trends, price points, and days on market.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

A couple of thoughts specific to condo investing:1) Be sure to include the condo fees into your cashflow analysis, and budget for potential assessments as projected capital expenses2) Make sure the condo association is solvent - a good litmus test is whether or not the units are approved for FHA financing3) Make sure the condo association rules/regs allow for rentalsGood luck!

This might sound silly, but have your most honest friend come over and do a walk through with you and point out every tiny cosmetic detail that should be fixed.

Please feel free to skip the details and someone may be able to answer my direct question at the bottom of the post. 

It will be available to view for estimates in a few days (the holiday weekend pushing our time line back by a day or two)drop me a PM/message and I can tell you further details   thanks. 

I'm a people person and ask detailed questions. 

I will shoot you a PM with my broker's details!  

@Ted Barrettyour analysis is roughly correct.