On a side note, we have been pre-approved over the amount of price ranges we have been targeting.We came across a beautiful 4 unit/8bdrm townhouse (built in 2016) in a desirable part of town.

I called several banks to see if I could refinance shortly after purchasing but banks are telling me that they will only give me 80% of what I paid for it, not what it would appraise for.

As JD mentioned any decent contractor should be able to provide a materials list for you to review regardless of how it is being paid for. 

Can you ask him/her if there are any pre fabricated hotel models he's seen?

@Kevin RodriguezYou could also increase the rate a little, do lender paid MI so it doesn't show up as a separate  component of your monthly payment and then get a better deduction on your income taxes.Stephanie

Smart real estate agents don't go around showing people properties all day long, if the perspective buyer hasn't been pre-approved for a loan.  

One more question Matt .This month my renter paid partial of the rent .

So I have been looking at Foreclosures and Pre-foreclosures for a chance to get a primary home at a discounted rate.

So of 11 people placed this year, 5 have been evicted.I just found out that 3 more of my tenants have been filed on for eviction as they have not yet paid August rents.

Short and medium term impact on the value of a flooded home is sustantial, and my research would indicate as much as 30% reduction in value from pre flood value.