The appraiser reviews the all of the documents, as well as the actual property, and provides an “as-repaired appraisal” – an estimate of the fair market value of the home after it has been repaired.The lender then calculates the loan amount, including the maximum renovation amount and the maximum mortgage amount, and proceeds to underwrite the loan."

For HMLs in particular, and especially if they've reached out to me, I'm looking for positive reviews and referrals showing that they are legitimate.

They should stand by their product and be comfortable with any professional analysis because they know they've done good work.Check out BP for reviews, reach out to other investors.

Buy a unit that you / your manager can deal with the typical customers who will rent those units. 

There are several other attributes/constraints of this loan program that you will need to review before making a final decision, and as such, I've pasted a link below that provides detailed information about the Freddie SBL Program.Freddie Mac Multifamily Small Balance Loan Program: Freddie SBL Program - InformationHope this information helps!

From a local bank's latest 10K: "Substantially all of our loans are to customers located in the immediate market areas of our banking locations …" I'm seeing more of this type stance lately and I don't think it's me.

Make sure you also get any security deposits and last months rent per leases that you should be reviewing.

I searched around a little and it looks like the average cost for custom construction in Natick  is about $162 per square foot.

After having an attorney review the contract, there was no way to get out of the contract, other than to terminate those tenants.

View report*This link comes directly from our calculators, based on information input by the member who posted.