We're considering selling a property Subject to (S2) -- meaning the buyer would pay closing costs and a downpayment, we keep the mortgage in our name, and the buyer would make the mortgage payments and monthly payments to us. 

In my test run of Tenant Turner, the salesperson quoted me the exact same capabilities, features, and cost as Showmojo.  

Problem is, the first bank I've talked to said that I am going to get killed in fees, closing costs and interest, as it would be treated as 3 separate very small mortgages. 

The calculation includes all costs going in and monthly costs if being held. 

You need to make sure there is room on the electrical panel to add larger appliances and also plumbing is easily accessible (to keep costs down). 

I am not confident how much it would cost and wonder if it is wise to pass this property to fix if I am not familiar with this issue.

The goal in the future is to get the permit and add the value for a future refinance.I have called the county and building department and they said that I will need blueprints of the alterations and submit them for approval and get all the inspections in place (I know this will be a headache and can be very costly).

I wasn't unprepared—I had a clear idea of my MAO,  ARV, and estimated repair costs.

I use a lender that oonly requires one day of seasoning so that I can refi as soon as the rehab is completed into a long term, fully amortizing loan.Cassidy, are you seeing competitive rates with this type of loan?  

Alternatively there are also asset based lenders that do not require DSCR calculation or income verification, that can be less costly than hard money, and fully amortizing.