Do an inventory of your mechanicals (HVAC, WH, etc.) and major items (roof, fence, etc.) with their associated lifetime expectancy for your region and that is your CapEx projection that you need to cover.Something like this (mine adjust automatically based on current year):

I'll adjust the numbers and see what it looks like

@Spencer Gray To your point about treasuries moving lower, it seems that pricing expectations haven't adjusted to this and thus are creating opportunities to buy deals with more favorable cap rate to cost of debt spreads.

Has an insurance adjuster come out to look at the property yet? 

I should adjust the heading, just wanted to mention it was in an opportunity zone.

(Adding a half bath may be more trouble than it's worth in this scenario, but let's just say we did it anyway).Adjusted home value after adding a half bath is $137,500 if appraised as expected and 10% is added to the home value.We stabilize with a renter after something like three months of holding cost.

You could then appeal the Refusal to the Zoning Board of Adjustment.

If you've found that then what you need to establish is rate (and whether it's fixed or adjustable (and if it's adjustable what the fixed rate is, when it adjusts, and what index + margin they use), then you should ask about fees (upfront fees, fees during underwriting, closing costs (title/recording), etc.

Adjust accordingly.

I've adjusted my estimating to Detroit pricing and needs.