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.

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.

Be aware of additional costs such as service charges, registration fees, and maintenance fees.- Property Specifications and Quality: Detailed Specifications: Get a detailed specification of the property, including materials, finishes, and fittings.

Louis, Richmond, and Louisville are markets with high growth potential, strong demand, and moderate entry costs.

Given that property costs are high in San Diego.

Love Toledo we are easily getting properties there with great cash flow and low entry cost in great areas.

Maybe that is why the general rule of thumb is MTRs are 1.5 times the cost of LTRs

Don’t the closing costs from buying and selling an investment property eat up all the appreciation (and mortgage principal paydown)?

If they just needed one more month, they might extend and pay the premium.I mention that, because if you are OK with the resident and just want them to sign a lease, tell them the MtM price will go up effective September 1, and is $400 more per month.