That rate would be fine as the cost would be minimal compared to the larger amount I'm trying to collect.

Hi, I have the opportunity to loan (via self directed IRA) money to a community center for renovation purposes.

Generally I would say that if the property is 15+ years old and not recently completely renovated a SFH would likely be in the range of 50% and a multi unit likely slightly lower, possibly as low as 40%, due to more tenants, higher cash flow and lower risks from vacancies.The 50% guestimate is based on the historic average of hundreds of thousands of rental units of all types over decades of accumulated data.

We plan to live in the upstairs unit which has 4 bedrooms and 2 bathrooms and rent out the bottom unit as it's more updated and will need fewer renovations (if any, really - it's actually quite nice)...

My question is:  how do I fill in this section if I already own the property and need money to finance renovations?  

If a claim were to happen while the property is vacant and being renovated/repaired, the insurance company would not cover it if it's insured on a landlord policy.You need to purchase a vacant property policy. 

In general, how much of your time as an investor is spent enmeshed in the renovation process once it has started?

We are renovating a small 800 sqft home and need an affordable heating / cooling  solution very soon. 

Provide your income information and expected price range and rental income from the property, as well as expected value after it's renovated, and they should be able to give you a good idea of what types of loans you'll be able to qualify for. 

The only difference was it had parking for one additional vehicle, the cabinets and countertop are newer, and it has a larger deck.