Keep in mind that are not appraising "replacement value" like an insurance company would use.

Even if you have to pay more for the purchase think about the costs of carrying the real estate while waiting for the approvals  (debt service, property taxes, insurance, maintenance for the in-place tenant) and the additonal finance charges associated with originating an acquisiton/bridge loan and then a construciton loan at a later date. 

I'm guessing it's because the title of your post is that you are looking for private money lending partnership, but it sounds like you are looking at getting into real estate investing to begin a portfolio.

It wasn't worth filing an insurance claim because if you have too many claims they can drop you or raise your rates.

Hey Alex, You may hold title under an LLC with a DSCR loan however you will need to run your personal credit to qualify. 

Have you looked into getting umbrella insurance as a first layer of defense to rentals?

What's the ROI after vacancy, insurance, property taxes, maintenance, etc.? 

Not sure what type of attorney to speak with or how to formulate to submit to his insurance.

Most would agree the top three are interest rates, taxes and insurance.

The problem with mixed use sometimes is you cannot rebuild it in the same configuration (can't get insurance for replacement and city/county won't allow rebuild).