The only reason I did not collect the application fee upfront is because this is a high end SFR , with a monthly rent in the 4k range and there are very few applications.

You burn the ships when you’ve confirmed you’re in the land of plenty and that’s usually after you’ve secured food, water, and shelter among other necessities.

Every situation will differ based on the investors expectations and value of their capital.I would say somewhere in the 7-10% range would be fair for both sides.A little more expensive than traditional funding and a little less expensive than HML.

Your per unit cost should be around the $50K/unit range.

I also like the idea of a coin changer when the coins are moving from the coin changer directly back into the bucket they came out ofEPA and waste water may be a factor. 

There must be water damage because some windows are missing.The lot is small and there is no possibility for garage.

Looking at properties in the $50-$60K range and the first three lenders I spoke to said their minimum loan amount is $50K.

One of the requirements for a multi is that every living unit must have independent utility services or at a minimum 1. legal provisions ensure and protect access to utilities for repairs, even if passing through other living spaces, 2. easements or covenants protect water connections, and the VA approves of a maintenance agreement; 3. there are separate service shut-offs for each unit. 

There is some water damage from a built in air conditioner and the inside of the house needs to be painted,  carpets pulled,  wallpaper removed in the kitchen and a bedroom,  hardwood floors refinished,  and possibly the dated kitchen updated with new cabinets, appliances and counters.  

Our build cost is on the low end of the 100 range, but we build ourselves direct to the sub markets, so no markup on the const. costs, nor GC profit in those costs.