You can usually get a lender to go 85% of cost or 70% of the As Completed Value for such a project.

Something many new investors don't think about is that property managers usually negotiate volume discounts for some of this stuff.

If it's something as easy as adding a parking pad then I would say it usually can make sense.

As per chatGPT, closing costs in Ohio are usually 2% - 5% of the price, so maximum: $6950.I'm open to working with lenders of any kind to make this happen. 

Usually OH and IN are the two main states they I have seen booming business in for 204 unit REI's.

Lower property taxes, affordable housing compared to LA (CA buyers are usually cash buyers because what they net from their smaller home in CA can get them a bigger home here, often covered by what they net from their CA sale), allergies (smog), and politics. 

They usually have a small upcharge on the work done but it's generally not a profit center for them. 

Usually lowering the price would be effective.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Open ended contracts, particularly verbal ones, usually end badly.