It is extremely odd the previous companies did not ask for that if they are collecting rent for you and issuing you disbursements.  

The DSCR loan would allow you to qualify based on the rent you are collecting and get up to 75% of the value (175 x 0.75 = 131.25k, minus 20k payoff and closing costs.You could get a line of credit or a bridge loan against it to borrow money, but it would be higher interest.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

GSP REI is BornAfter 6 months of extensive due diligence and getting to know each other I decided to partner with Ron in the beginning of September, 2019.

I have nothing to do with the delays, deposit collections  and etc... 

Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.

Marketing, screening, collecting rent, unpaid rent, maintenance, capex, insurance, lawn care, vacancies, turnover costs, inspections, and so much more. 

@Kyle Trotman If you purchased with a hard money loan conventional lenders will require extensive seasoning to utilize the new appraised value for cash out. 

I should look at the expenses vs the income (rent collected) and not the selling price of the property. 

So permits are not relevant to the subject of this thread for my jurisdictionNot sure if there are jurisdictions that require permits for cabinets or counters but if there is, I suspect the motivation is the fees collected for the permits.So permits SHOULD be irrelevant on this thread.best wishes