Search the BP for ADU appraisals to encounter numerous examples.

I don't know CLE per se (I'm based in STL), but I know the financial side of gut rehabs in urban centers of big cities.

They framed it as a way to provide workforce housing, and the project not only sold out but became a model for similar developments.I read a piece in Forbes recently about how smaller multi-units are reshaping urban housing.

In New Jersey, there are numerous brokerages to chose from, and I highly suggest you do a google search and look into 100% virtual real estate brokerages in New Jersey. 

There have been numerous people on BP talking about how they paid application fees but they could never get their loans closed on any deal brought to the company.

That is numerator.

Anyway, any pointers from northern people with urban multifamily properties would be appreciated.

Some hotels actually have a condo like structure, where people can own the units, but perhaps are limited on their personal use to only a certain amount of the year - the rest of the year it is in the rental pool managed by the hotel.If numerous room owners stopped paying their bills, you could get tax liens on numerous separately owned units.Hotels are a tough business, an issue I also see come up with them often is that they require refreshes, expensive and relatively often - at least once every 10 years, if not more often. 

I've made investments in Chicago, so I understand urban markets a little bit.

For instance, in my private lending, I dont really give a numerical credit score much weight, but I absolutely look at the composition and history of the individual tradelines on a report if the borrower is a smaller outfit, such as a single member LLC or similar solopreneur-type operator.