The reports are 40-90 pages long and go through the entire house in great detail.Get an appraisal.

@Blaine CoxThe bank will refinance at a % of the appraised value.

I'm no professional appraiser, but these are all 3 bed/2 bath homes built in the same era (1920s) with incredibly similar square footage and lots (1600ft/.33 acres) and same basic amenities (none of us have garages but we all have recently renovated kitchen/bath) Besides the 'hot market' that is happening in our little town, we did also do improvements to the home since purchasing it- including a new roof, gutters, encapsulated crawlspace and landscaping. 

I'm still working through the process, but there is a large question mark around the appraisal of a SFR and an ADU.

New appraisal value at $340,000.

@Kerry B.Are you asking to cash out 90-100% of appraised value?

I'm assuming you want to refi based on a new, higher appraisal. 

They are great resources for investors and appraisers.

Would it just be a letter stating that when the property is fixed up they will issue a loan upon appraisal and inspection? 

The attorney requires I pay for an appraisal with my own money and that in order to purchase the property I have to pay 100% appraised value.