We have a few of these programs on our platform BUT my first question to borrowers who are seeking this is: what experience do you have?

No on-site office, nearly autonomous functionality.

Ensure that you are using a rent payment software program that records and categories rent and money charges and payments, including dates, payment amounts, and balance owed contemporaneously with the transaction.

If you have to do cost plus, sometimes have to, You have to stay on top of the program management.The path forward is about renegotiating what you are going to pay.

A new rental registration program is coming Jan 1st, which will close any remaining gaps on rentals in the city.

There are also "negative" DSCR programs out there that allows you to go even below 1.0 DSCR.

I'd prefer the bulkhead as it has more functionality, but not sure if that would satisfy code to make it a "legal" bedroom.I am hoping to refinance the property after I make the improvements to get my money back out, but that would definitely require the additional bed and bath to meet code and be considered legal.If anyone has the answers here, could point me in the right direction of where to find them, or just has any advice in general, I'd really appreciate the help!

Not sure on the other programs.

Check in with @Joseph Chiofalo they have NJ second lien loan programs that can go up to 95%LTV but lower on 2+ units.

This is essentially a $6,000+ job of a brand new panel and outside shut off valve for what was previously a perfectly functioning system that had never given any issues.