Based in Katy, TX, I have a mortgage and my DTI ratio is 30%.

I'm assuming this was for a US based caller?

The process for my county was pretty straight forward, just needed to include before and (proposed) after drawings (which were hand drawn, no architect needed) showing the 2 walls and electrical outlets/switches.

Rate depends on property type, number of units, LTV, loan amount, FICO, borrower experience, etc....hard to give advice based on the limited info provided. 

So assume my base email address is like below, except I had to include spaces in there to get past the BP spam blocker (so take the spaces out when you attempt this of course):sb_____3 @ gmail.comI can insert a '+' and unique like so:sb_____3+unique @ gmail.comI can insert a '+' and BP like so:sb_____3+BP @ gmail.comYou get the idea.

There are so many nuances based on each individual's situation.

I agree with @Mario Dattilo and Roger D Jones.I think the only thing that I would draw emphasis on is what Mario said because unless it has a separate tax ID number it is not an apples-to-apples comparable.

Older economy hotels tend to trade at a multiple of revenue (say 3X) where midscale + branded assets trade based on cap rate.  

So you want to have a relationship with your tenants based on a lie, best case omission of information?

You would pay for the first draw, the lender's inspector would come out and you would be reimbursed and so on until the project is complete.