With loan extension you might have to come up with extra payment to get DSCR in range lender will approve.That is why to go through this exercise NOW and if you know tenant wants 300k TI to extend and bank wants 300k to pay down estimated balance when new loan placed you need 600k to come up with.

Emphasize that these extra steps would protect both the property and your investment. 

We budgeted $100k and that’s our goal but have extra just in case something pops up so this $120k is a high number.

Quote from @Zachary Ware: A PadSplit can be very heavy in CF but be careful if you are renovating a house and adding extra rooms.

So when I was getting closing to signing on the load it cost me %.5 extra in interest because the property wasn't occupied. 

Property was more disgusting than we anticipated and we had to put extra money into deeper cleaning.

Property was more disgusting than we anticipated and we had to put extra money into deeper cleaning.

Because interest rates are high right now it probably doesn’t make sense to pull extra cash just to stick it in a bank account.

It ended up costing an extra ~$6k in closing costs but I think we did OK. 

That’s about $900/month in extra carrying costs, but once sold it could potentially be worth it.