Please also make sure how much points or cost you are paying by looking at the Loan Estimate.

He only gave me an estimate (doesn't show work completed) for $5,000, even though the repairs were stated to cost $15,000, he said he lost other documents, when I ask him to retrieve them or allow me to retrieve them from repair company he won't.

If your ARV is truly $285k, then I would estimate you could cash out around $135k that you could apply to the DP of the 6-plex.

Architecture did a design and well respected contractor estimated the buildout of 4 plex would be an additional ~800k for total project cost of ~1M. it would be ~1.2M for the 7 plex.  

I think the estimates are crazy low.A $3200 rental is going to be a nice place, not something with garbage paint on the walls.

DM me the address and I can tell you what the approximate value of the property..

Please also make sure how much points or cost you are paying by looking at the Loan Estimate.

If I hadn’t been an expert in this market there would have been many variables I would have had to estimate which is a rookie mistake.

Fair enough, I have partial ownership of a commercial (apartment) building in the Bay Area and I would estimate it as a Class A- to maybe Class B - great location, great tenants, nice amenities (not high end like gym, new pool, community room with big screen TVs, etc), high rents, but building is older (built in 1950s).One investor I saw post that they look at where Starbucks and Costcos are opening and possibly factor that into looking at different markets.

You will be within close proximity to the University and approximately 5 minutes driving distance from the main city area, which also includes the hospital (could be good maybe for a medium term rental if close enough for travel nurses).