The hard money loan itself will cost me very little.

Any idea on what would be the per sq foot construction cost for this project?

These guests usually prefer a typical bedroom setup and aren’t looking to max out on beds.For anything under 5 bedrooms, I’d suggest not cramming in too many beds, because the type of guests booking a 3-bedroom are often the same ones who’d consider a 2-bedroom—they just want a bit more space.

You'll want to look more at the closing costs than the interest rate since you should have 50k worth of work done in a few months and your rate is annualized meaning that you'd be paying about 1% interest per month.

While the cost of a system like this is high, I find it appealing to have all keyless entry to the building and units.

Since inflation was so severe for the last few years, they had essentially decided to raise interest rates aggressively in order to fight this high inflation even if it came at the cost of slowing the economy down.

What I paid for it + the cost of the improvements (~$200k)2.

For instance, a full kitchen cabinet setup costs us 800, the front main door with glass siding will cost us 400 and the windows are costing us 30 a piece.

There are far too many hungry loan officers (No offense) trying to make it in the business who are never closed on a commercial loan of even A DSCR loan.The problem with that is it will cost you lost money and most importantly lost time!

My lender just informed me that my seller concessions exceed the relevant closing costs (including points buydown) and that the money left over will be a “wash”.