Housing and Urban Development's Secretary Alphonso Jackson today announced $18,440,932 in Section 202 Demonstration Planning Grant (DPG) funds will be awarded to 75 sponsors that provide supportive housing for elderly projects.

This will clearly demonstrate that you are running a professional business and (most important) it's a separate entity from your private life and finances.

Your property analysis above must demonstrate that the downpayment and renovation costs on a property would be no more than the cost of residing in residence.  

Now anyone who wants to demonstrate what I'm talking about can simply grab a coffee filter or white t-shirt and blow a puff of pot smoke through it.  

I received much more traction when approaching community banks a providing them with solid info to demonstrate ability to perform.  

This approach may be easily demonstrated by logic to a seller, bring the property to its best or acceptable utility, instead of simply trying to beat down the sale price, it's a bit of a partnership approach in meeting half way.

@David Dachtera, that's avoiding the question by sprinkling some meaningless platitudes and making assumptions about the person asking the question.No shame in charging for education but I've found that when pricing is a mystery that needs to be discovered only after demonstrating my willingness to spend, it's best to stay away.

Appraisers constantly build their knowledge base through experience, forums, symposiums, field work, and resources like the MAI - the comment about 1970's calculations demonstrates an ignorance of fundamentals - not the least of which is the economic law of diminishing returns. 

This also demonstrates to the Hard Money Lender that you have “more skin in the game”, and you are willing to invest more of your own money in the project.

If they have half a clue, they could explain this to you in less time than it took you to type the question and it demonstrates their competency.