Clearly these are just example numbers, but it is how I would look at it.And then layer in if refinishing all the 1 beds is a $100k renovation, but converting into a 4 units is a $150k renovation, now you are spending more money to create less revenue AND have a property worth less at the end of the day.  

Soft currency, hard currency, it’s equivalents and commodities (natural resources)From there, For local economy cash flow (spending money where you live), you’ll probably get into real estate and local business cash flow activities and it’s deviations 

Keep in mind they will also spend far more time raising capital and diverting their attention outside of managing the investment which is adverse to your objectives.  

Additionally, there are several DSCR lenders who have various products for this, but most have something similar to Delayed Financing as well as cashout refi's with seasoning typically around 6 months. 

If the deal is good and the *ongoing* cash-flow numbers make sense, then it doesn't matter what you spend to get it ready.

If you don't need the additional cash, then I suggest just getting a bridge loan where the lender gives you funds against the As Is Value.

@Mae Dungo I personally think that spending almost $20k is an exorbitant amount of money for a mentor.

Additionally, the Courthouse Online platform is a helpful tool for property assessment data, including ownership and sale history; you’ll just need your property’s Control Number to get started.The Property Mapper is great for visuals, but it sometimes lags with the latest updates, so checking with the Recorder of Deeds or using Courthouse Online will give you the most accurate information.

My advice would be not to be pound foolish and penny wise, spend the money now and sleep safer. 

In fact it may actually complicate litigation in the event a claim were to arise while adding additional insurance expenses to your real estate operation.To explain why this is the case I’m going to ask one very simple question: In the event a tenant dispute, premises liability, or any other claim were to arise, what prevents the Plaintiff’s attorney from merely listing your wife who it seems is the property deed holder in your fact pattern as a Defendant?