I'd rather purchase a vacant rental if I had my choice.

In the event you do have to pay for the repair (although I would heavily contest this with the contractor) I think its fair to charge the tenants with an explanation that you did incur damages for the repair although you previously believed that you would not 

As others have mentioned, DSCR loans are generally for turnkey rentals (although outdated rentals may still qualify depending on the level of deferred maintenance). 

I'd never touch that price. we underwrite 10% of after built value so in one of our markets in columbus that is 600k new build 40-60k on raw land

Please advise if you have a good agent to refer who specializes in multifamily.more precisely in these areas:NashvilleKnoxvilleIndianapolisCharlotteRaleighColumbusCincinnatiHi Joseph, I'd definitely recommend looking at Columbus Ohio for large multifamily and apartments!

There were a few other good and bad items.Believe the COO is on BP although he doesn’t frequent.  

Funny enough, I was going to suggest you move out of SF due to the high cost ;-) I'd suggest going down the SF condo route to start as financing for commercial units is a lot more difficult than residential properties.

The issue is, if your project isn’t structured to be sold as a package, then those comps don’t make sense.Here’s how I’d push back:1️⃣ Clarify the legal structure – Since each unit has its own legal description and will be sold separately, they need to treat this like two single-family townhomes instead of a duplex.

So if the house is worth $500k once finished, then I'd go for it.....But first, talk to a Realtor and a GC.

I'd be happy to connect to discuss the Hard Money Lender side of things.