Did I choose the right Loan product ? 

Banks can usually lock a rate for 60-90 days for fixed-rate loan products, but can create other issues for borrowers by requiring depository relationships and ongoing covenants for property performance. 

I guess it's just weird that the majority of properties only have solid lines like these

I've heard there may be loan products that will look at the value of the home after construction in determining how much cash can be taken out but I haven't done enough research yet to know if that's accurate. 

What is the purpose of that product specifically? 

I am now giving her major side-eye.

@Bob Smith Yikes - those both sound pretty major.

Now investor pay 100K -110K for this product and appraisal is most likely less or same as purchase price.

This is a good example of how paint and finishes can add good value to a property without a major renovation.Drain venting is definitely an issue in older houses. 

For example. typical fee for attorney review / closing is $10k.. deal falls through due to disagreement over major inspection item.. buyer and seller walk away.. billable time incurred was $5k.