Rob, Thank you for the compliment regarding the wording…there's much that people in the industry take for granted, and I try to remember that we should present the value-add components of our niche of the industry.Private money lenders want to protect their assets--the biggest fears are some combination of trust in the borrower, worst-case scenario regarding the rehab, and worst case scenario regarding the market. 

You are not going to find a different Servicer who does not mandate the same minimal file components as FCI.

Your wrong assumption is buying at retail price with no value add component.

I generally understand the math and joined the PLUS membership so I could tinker around with the calculators on BP, which has helped me drill down on all the different components of analyzing a deal, but I certainly have A LOT to learn. 

Have you verified that all the main components of the home are in great shape?  

In all honesty I have no idea what it would appraise for at this point, and that is def a crucial component that I need to determine.

For a basic purchase with no construction component, the bank has nothing to go on other than what exists today which doesn't sound good from what you've described.Since the lender has already walked the property with you, you should call them and talk through the options.  

As for the fees, the dollar amount can be all over the board depending on the lender but on most larger commercial projects it is not uncommon to incur  significant underwriting cost for appraisal, environmental, PCNA reports etc..

I've created a list of components, sku's and pricing.

Also, I would love to connect with local investors , agents, property managers and contractors  because i do believe that networking and building good relationships  is one of the key components of success, in any industry.