Write it up to an education, spend some time sharpening your support team (particularly in the trades) and start thinking about how you can do it again!

So please believe me when I say I LOOKED for anything I could to help support his claims.  

Not a scheme I support either.

It comes down to factors like your area, your market, your experience, the team you can draw from and how mush you need to make to support the investment of time and capital. 

It's also an easy way to keep all supporting documents in one place.

From our perspective now it seems misleading to advertise anything other than useable space without sharing insight into the calculation.

There are lenders out there spending a ton on advertising with an army of correspondent's funneling them loans and many can very well be one and done borrowers because the loan servicing/construction admin is lousy. 

They seem to have a good team but this is something not thought out it seems , in their support I do have DSTs which have had the same issue and have not been making payments. 

Your new ARV(after repair value) should be supported by an adequate amount of comparable sales in the area(duplex's).

I like Hemlane, which is advertised on here.