I don't know to what level you will finish the apartment, but I would budget more money - another $5k at least.

You get about six months to actually finish the course. 

Yes, the market has been better than this lately, I am passing!

Also, late fees are $6700 of it. which isnt a promising signI was going to look at large CAPEX during due diligence phase more in depth for sure.

I can’t see them needing this house when the building is finished and I can’t see them rehabbing it for sale either.The second I think is a rental but has been vacant for at least a little while, there hasn’t been any work, cleaning, or showings that I can see and I drive by it almost daily.

But with us doing 2-3 remodels a year at a minimum (and this doesn't include the smaller jobs, such as finishing attics and improvement projects on the rentals, which we also do year-round), and having 11 full time rentals, in which the employees take care of, does this make sense? 

So, maybe the borrower finishes demo does some framing, then draws $10K on that loan.This way it allows borrowers to be fully capitalized, but protects the lender from over-committing capital until the property has progressed, therefore increased in value. 

Secondly:  So with the frenzy in the SFH NY market, my wife and I purchased a 1960 Colonial in the end of 2017 (an estate sale) at $350k with 3/1.5 1700 SF + 450 SF finished basement and garage.

Hi Nathan, I know I'm a bit late to respond but just saw your post. 

A little late on the reply but I own property on bay rd in bonita springs directly across from the gulf but I was able to have the owner transfer his floor policy to me.