The coverage you would ask for is called Improvements & Betterments or Additions & Alterations or similar.   

If you haven't done any major renovations, additions, or improvements after the purchase, you should be good.

I live to listen, learn & improve.  

I lost a bundle of money 20+ years ago when I ended up in a similar situation, with a new build I couldn't afford to hold until the market improved.

Improve the condition through renovations.

My friend/advisor with more experience says I am being a cheap knucklehead and that the $20k is not relative when you factor the forced appreciation and income/valuation of the improved asset(proforma), but, I think it is math and $20k is always relative and I have my criteria(4.5cap) and was very transparent about it from when I first submitted the original accepted offer, and my DD uncovered several hidden deficiencies that make the credit necessary to maintain my original underwriting numbers and even though I understand my friends rationale, I don't want to give in any more slack(adjusted to 4.4cap), than I already have...What do you experienced multi family acquisition people think?

Even if the unit over the garage was going to be used for investment, you can only take title after the improvements have been made.

Hello all,I recently received a notice that my Hudson County, NJ property's taxes have been randomly increased by over 8k due to improvements made.

When you increase the loan on your primary the cash out portion is not tax deductible in the same way as it was when you bought as the money is not going in to improve that property.2.

Once you have better estimates of income, expenses, and cap rate you can be more specific with your NOI and value estimates before and after improvements.