Commercial lending is outside my realm.... on a surface level I think you'd be getting into secured/unsecured lines of credit but I couldn't speak as to how that'd effect your lending. 

Damage includes but is not limited to: deodorizing carpet, wax removal, additional paint preparation, replacement of drapes, repair or replacement of carpet, counter-tops, or any other surface damaged due to burn marks and/or smoke damage. 

Adding drywall mud, a coat of primer, and a coat or two of topcoat add a lot of weight to the surface.  

The problem is that the surface under the backer board is either not level/flat or it is not thick enough (too much deflection).Additional layers of backerboard do not decrease deflection.

Be patient, have your money ready to make an offer when the hidden gem comes on the surface and you have your reserves and game plan ready then you strike.

At only 400 sq ft, there isn't exactly a lot of square footage for mold to hide in on surfaces.

Slightly more valuable properties I prefer to rent for less and save the expensive updates for just before selling because that price range buyer is more sensitive to what is in style...beige granite now dated in favor of grayer quartz whereas low end is thrilled with any solid surface over plastic laminate.

So...let's say we get list price almost immediately (otherwise known as best-case scenario), everything on the surface looks good until you realize that you have to pay taxes on the profits (bye bye, 25K), closing costs on the property (let's estimate 12,500), RE commission (6K). 

Snow tires are often not better on ice because you want more rubber contact with the surface. 

After that I saw that it wasn't as great an idea as it seemed on the surface.