BofA asked if I wanted to see if they could just increase the line and I agreed. ( they did do another credit check, but it must have been a soft pull because it never showed on my report).

We'll usually go 80% of the cost of the lot, plus construction costs, plus soft costs up to 70% of the as-completed value.

ed, first of all, great questions. i really appreciate your knowledgable input...taught me a ton. i don't think there's a new cause. the smell was almost nonexistent after the crawl was finished. after every week for a month, it went down further. it would come back in pockets every once in a blue moon. there was one area (living room) where I'd smell it briefly in the family upon a rain shower.as you know, the crawl is cemented. there's no leaks found down there. good point on the attic. i will check into that in the spring. i know the area around the chimney is soft.

There are some risks such as C- area, new market, can you obtain good contractor, section 8 bureaucracy, quality of PM, the increased rates and managing a soft landing, etc.  

Soft side -Get a feel for communication styles. 

You also have to think about the soft costs and what can attribute to that. 

I got a detailed estimate from the store and I know the material cost would be $7,500 for new all plywood, soft close-white shaker cabinets, granite, stainless steel appliances, farm house stainless steel sink with back splash.

I don’t understand the reasoning behind the “percentage of rent“ approach for CapEx reserves... if I have a 1,300 soft that rents for $900/mo and a 1,300 soft in a different area that rents for $1,800/mo, why am I setting aside different amounts for when the roof or HVAC needs replacing? 

We're normally at 80% of the lot price plus soft costs plus build costs to a max of 70% of the As Completed Value.

It is soft old metal and will eventually break.