Lenders want to get as much information as possible to feel comfortable with an extension.

Bottom line, as I said, if we call someone to ask if they are interested in becoming a member, we take them through an extensive intake process to make sure they are in an area where flipping is more likely to result in success.

This is what I have done with a more extensive rehab with my GC, but wasn't sure if this is standard for smaller repair budget and dealing with a handyman / sub directly.  

Do the more extensive testing. 

There is a contract signed by the previous owner for 5 years with 10 automatic extensions, so the contract expires in 2024. 

There will be the soft costs, like planning, permits, infrastructure, utility extensions, roads, etc..

With your background as a licensed agent and your extensive experience in both commercial and residential construction, you’re definitely in a great position.

Parallel to all this is due diligence deadlines, if you have deadlines but issues arise, you may need to negotiate for extensions.

Ask for an extension on the due dilligence period if necessary. 

To be compliant you dont have to scrape walls or do extensive repairs in most cases.