Since I have commerical multifamily I can also nudge rents up and (if cap-rates stay the same) can force appreciation even if the dirt doesn’t increase in value.

If so that increases your cash flow significantly.

I then got a call from the mortgage company in the afternoon telling me that mortgage rates were skyrocketing and my new rate with 0 points would be 6.5% and I need to lock or it could increase even more. 

The estimated budget for the rehab is as follows:The rent increase will be $200 on the unit, going from $725 to $925 or a 27.5% increase.

No wonder the USA is fat and sick.

Mls fees, board association, e&o insurance, general business liability insurance, electronic key fees, licensing fees, continuing education, any fees your broker might charge, increased auto insurance rates.

So, maybe the borrower finishes demo does some framing, then draws $10K on that loan.This way it allows borrowers to be fully capitalized, but protects the lender from over-committing capital until the property has progressed, therefore increased in value. 

Please show me your bank statements to provide some amount of assurance that they have some number of months cushion so they would continue to be solvent in the case they get sick or in some way can't drive / perform the activity. 

If you can increase income / reduce expenses enough to meet your target appraisal number, you may be able to get the loan size you're looking for.

The rent needs to be raised this year 2018, taxes increased and so did maintenance costs.