If you still feel like you want to do it at least go visit their current rental to see what it looks like. 

Ask the lender to see if this is something that they require to plan ahead 

If you conclude the leverage is so good that everyone comes out ahead that's fine but if you are only able to originate hard money debt that may be viewed as a red flag by investors who will question your experience and borrowing strength.

So it’s best to get ahead of it before the appraiser does for the 1007.

Think of vehicles like the cyber truck where you need to sign up ahead of time to pre-order and so many people want it that the value increases shortly after they are released.

You might also meet title agents who have resources on, say, foreclosures or probates…and might recommend lenders who actually lend on more difficult projects (as the title companies also know which lenders can close and which are difficult).I also go visit open houses to see what sorts of finish to put on my renovations or to look for the next house or area in which to purchase.  

Lesson learned, check your numbers more thoroughly ahead of time and actually do your research.

@Sheila Siegel go ahead and message me if you're still interested

I perhaps naively went ahead with the registration and inspection after completing purchase of the home, and wound up with a hefty repairs bill of around 3k.

Visit with people there and you'll get a more detailed look at things from people actively working in the areas.