It is also my understanding that several types of loan products including the VA loan and I forget the other one will not qualify if there is any sign of crumbling with the asbestos siding so you may be limiting yourself on the selling side of things if you do not go over it with vinyl.

Offering me loan at 5% interest for 30 years no prepayment.

As a CA broker I can originate whole as well as fractionalized loans.

Hi Choon,As @Andrew Kiel, mentioned, there are various costs involved other than the rehab, from closing, title, escrow, appraisal, lender's fee and carrying costs depending on if you are using a short-term loan.

For example, FHA loans allow for a really low down payment where others required a lot more. - It really is personal preference - everyone has their own "this is the best market."

Conventional loan with FICO 620 you can buy owner occupied with 5% down.

Back to your project, if the unit could use some upgrades, and the market shows that tenants will pay an increased rent for those upgrades, then you should improve the property.  

But the value that can be added in high value markets is greater than in low cost markets.My last value add (purchased Dec 2021) was purchased off market at $2.25M and was appraised at purchase at $2.5M for the loan (so on purchase I "made" $250K). 

From a lender's perspective, we struggle to get good loan officers.

Secure financing through conventional mortgages, FHA loans, VA loans, or private financing.Start searching for properties that meet your investment criteria and financing options.