Regarding loans to businesses, respondents to the July survey indicated that their banks tightened standards across all three major commercial real estate (“CRE”) loan categories—(1) construction and land development loans, (2) non-farm nonresidential loans, and (3) multi-residential loans.

The 2 bed units are between $1,747/mth to $2,650/mth, most of them between $2,100-$2,200.You can look at zumper and maybe rentmeter or zillow to get an idea of where those rents stand, but if you like the #'s at $1,400, then you may have "bonuses" later, when you raise them or rent the vacant one.For home insurance, I'd find a local agent, maybe from a referral, and ask them for a quick estimate.

                                                  Economic Update                                           (Monday, August 17, 2020)The pandemic has reinforced and exacerbated many of the inequities in our society across categories of race, class and age.

We see it all the time where a company grandfathered in a certain type of risk (ie motels or apartment storage units) and no longer have the appetite to underwriter this type of risk anymore usually due to losses incurred from the risk category.

The goal here is to find out how much money you will need to put into the place (probably going to need to lump this into the "capital expense" category rather than deferred maintenance for a 20plex).Now check the regulating bodies.

He owns dozens of units in Fayetteville, NC and as a bonus he is a 20+ year veteran. 

Possibly 60% cash and find a hard money lender for 12 months then refinance Second being 80% and 3k bonus at signingif I can get him to owner finance with me taking over for a year, him getting a percentage of the cash flow, and me agreeing to buy at appraisal with a cash bonus (5k)  at signing.  

That was a big relief and saved us from having to challenge the appraisal, which we still think is low, though probably not by enough to save the numbers for the deal.An unexpected bonus: while we’re mainly focusing on cashflow, with the shorter loan term, we’re paying down much more principle on the loan than we’d thought we would each month.

After all, $40k is a lot to pay for a Zoom subscription that won't even get you a decent job, and there are a lot of small private colleges that fall under that category.

But it really just depends on the bank and the extent of the renovations.Extensive renovations and it might fall under a "construction loan" category.