You’ll need some code compliant (architect) plans before you can get any kind of accurate pricing. 

Perform your due diligence and determine which lender will offer the best terms and be easy to work with throughout the process.

The best areas for room rentals are often not the best performers for long term family rentals as, generally speaking, best performing room rentals are University/Campus properties.

If there is something you don't like, then you can always walk away.I know past performance does not predict future results; however, real estate has always appreciated over the long term.

Hi All- I'm looking for help finding a lender who will REFI at 30yrs based on the performance of an asset/income property.  

Commercial loans are more expensive sure but they are based on the performance of the property.

For example, how does a wholesaler see a distressed property and find the info for an accurate rehab estimate to be able to present it to an investor? 

Developing that trust with someone you don't know may seem like a challenge, but if you approach it correctly, you should be able to achieve a pretty solid foundation of trust.The best way is to target sponsor who use professional 3rd party administration that verifies the sponsor, their background, their track record, and their performance.

I know it will not be the 2-3% because it is not owner occupied, but does that range sound accurate? 

I say that because the market I'm most familiar with has performing properties for 60-100k, with 20% down you could be in a great place with reserves on a 60k property!