In addition, I would update the listing to mention that you're open to owner finance at a very reasonable terms such as 6-7% interest rate with 20% down payment, no credit no problem and hope that would spurn more interest.

I just did a single family residence deal there earlier this year but it was a 1 unit so loan limits are 554,300 as opposed to yours which is $709,600 so it looks like your loan amount is below that which may help you get financing if you're considering a refinance.FHA allows a cash out to 85% of current market value so if you believe you're at 603,000 loan amount then you'd need a min appraisal of 709k or so to refinance this home into a conventional loan if you're trying to remove mortgage insurance.There are lines of credit to 89.90% or 90% of your homes value if you're interested in having access to your equity (if the property appraises high enough).To address your questions:1) If it appraises high enough yes you can remove monthly MI and you can use a line of credit 2nd to access your equity (this would be your best bet).

Thank you @Scott Ryne it's amazing that you explaining what I want say in a lot better way. the projects it might be small or big and either he is under paid or over paid very true. in addition that it's my benefit to reduce cost and the bigger the project the better his fees, I feel it's not fair.

I am new to REI and want to get into wholesaling initially to build some additional investing capital.

The addition income without addition expenses adds value to the property. 

Yes, you will have a higher interest rate but you have to look at what it is going to cost you: If the higher rate is going to cost you an extra, say, $30/mo and your closing costs are, say, $6k, you are betting that you are going to keep that loan for over sixteen years. $6k/$30=200 then 200/12=16.66(yrs).  

The agent was worried that it might raise a flag with the assessor with maybe an un-permitted addition or something.

Vetted the prospect thoroughly and thought it a sure bet.

That would be your best bet.  

@Rita Koroll,As for HOAs, you need to consider them as an additional operating expense just like property tax.