The house has four levels (basement/partially below grade level, entry level, bedroom level, and master bedroom level).Also, the lowest/basement level is fully finished and there is a large adjoining crawl space under the entry level side.

Did he give you any references or skill level?  I

@Taylor Colwell Run the numbers for what you are trying to do, and know where your risk/comfort level is.

We had to install new hard wood floors (most homes have them in this market), and when we started prep work we realized we would need to replace the entire sub floor on the 1st level! I

The company I used to work for the underwriters got a lot of exposure because they would be working directly with the acquisitions officers, but also sat in on the acquisition meetings with the two principals, CIO, COO, CFO, AO, etc.  

Jack, At that level, I am sure you are right.

At this level I would guide you to have 3 different banks that could lend you money based on different scenarios you might face. 

With a o many different strategies, I just wanted to make sure I was starting off on the right path. 

Once an income level is achieved KILL the debt and sleep good at night.  

Incomes level is very similar as well.I have had great conversations with all of them and would be happy for any of them to occupy the building.