I cater more to occupied because I like to modify or reinstate these loans which is much easier to do if the occupants are still in the houseAnother thing to consider would be the statute of limitations.

I used my new texture sprayer and crown molding)I wish I had used the big wooden baseboards I used in House #3 bought from a home supply company instead of the smaller plastic ones I bought from Home Depot for the other two.I go into my older 2 houses and want to kick the tenants and contents out for a month so I can modify the houses to match the look and feel I have come to learn.

Does he pay me the $5,000, and then I modify the loan after I receive payment? 

Hence, I would start with the seller's P&L, normalize income - by adding/deducting and modifying revenues/expenses - to make it more reflective of reality (or your expectation or reality) and then use the income valuation approach. 

when you attempt to modify a loan, do you reach out to the party directly or do you do it through a services or lawyer?

And assuming I would like to do a modified BRRRR strategy, how could one refinance one at a time without having to refinance all of them?  

So it's the brokerage that would need to agree to modify the listing agreement and fee structure  with the seller.The listing agreement might have a protection period built in where commission is still owed once a buyer is procured even if the seller chooses not to sell the property.

Obviously, time and experience could modify this.   

However, if the tenants hold a valid lease, you will be bound by the terms of that lease, UNLESS the seller can get the tenants to agree to a modified lease.

It can be modified for more usage if we move the fending around.