@Sam Huang the title of your post says you are a wise and successful person.

ARV: Be conservative on your ARV since the appraisal concerns one person’s opinion.Timeline: Whatever a contractor says, add 4-8 weeks and budget for those holding costs. 

DM me if you would like to connect personally.

You can also counter this person with a lease instead of an easement. 

DSCR Loans don't take DTI into account and are aimed at looking primarily at the property so if it cash flows, don't have to worry about personal income!

In my home, I personally converted an unfinished basement.

for my personal use and upcoming reconstruction.

The reason is I want to separate my personal debt to income ratio from my real estate investing “business” and of course reduce personal risk. 

Basically you are buying in to that person's relationships. 

Quote from @Miguel Del Mazo: Quote from @Miguel Del Mazo:With regards to MTR arbitrage, a quick definition may help less experienced investors follow this topic better.I am sorry this part was not more clear; since forums can be read by people other than the person quoted, I wanted to define a word that some people may not know.