Comps shouldn't be that detailed in my personal experience (if you take it to that level you may easily miss opportunities).

What am I missing? 

@Naomi Moore The most fatal mistakes are what you missed, and that is the framework of making the best roi SAFELY, preserving your $4m capital.

Buy everything you can....don't be so deal oriented you miss excellent deals.   

I would need to fully furnish it and it is missing a refrigerator, (washer and dryer too).

Anything I am missing?

Even with my research, this one doesn't seem logical if the borrower has equity but I am hoping I am missing MANY different reasons why it's not as simple of a solution for the borrower as I have laid out.Thank you!

Work with their Program Advisor to come up with reasonable demands, like: find out how many meetings they are required to attend weekly and then state that if 3 consecutive meetings are missed they will be on a 30 day probationary period.

For example, here's a short list of things we'll be looking to update while living in the unit:- Clogged upstairs bathroom drain-Need bathroom fan- Bathtub porcelain chipped- Broken balcony door- Broken kitchen window- Missing smoke detectors- Redo kitchen floors- Refinish living room floors- Paint in all rooms- Improve kitchen cabinetsWe don't have a specific $$ budget, but we're always looking to keep costs low while providing quality.

Tell me if I miss anything!