You might have a higher rate on that loan product but it is worth it if you can move forward on a major cash flow or value add project. 

When it comes to getting quotes from contractors, I know I need to give them a list of things that I want done, but do I include specific products (type and color of LVP flooring, paint colors, brand of kitchen cabinets, etc.)?

Financing the lenders for this type of product tend to want a forward commitment lease signed by the tenant.

I am an empty nester who needed to find ways to be productive with my time.

eXp Realty is a brokerage you can look into as we're very investor-friendly and have low production requirements, however, any sponsor (and Broker) you sign under will certainly expect a minimum of 2 (non-personal) deals a year... 

I owner-occupy a 4-plex that I bought about 6 months ago, and I'd like to utilize some that equity, but I'm having difficulty finding any loan programs for my situation (I'm aware that this would be a unicorn product). 

🔽A drop in lumber prices has invigorated demand for commercial building projects, especially for multifamily product, Sherwood Lumber chief operating officer Kyle Little told CNBC last week.

Building a down payment and a reserve fund may prolong your time window to "be ready" to invest but it will certainly make your investment more productive and promote success.

It seems like SPC is a better choice because it will last a lot longer, and is waterproof so we can use one product throughout the homes. 

@Stephanie Wells I am a licensed lender and I do know of the product.