I actually think it would be funny if you walked into that bank with a printed copy of that form in-hand and asked "what gives?"

The deal was just okay, and now that I have the education of how to actually evaluate, buy, and rent a single family property, I want to do another deal that is much better than my first. 

I'm actually coming at it from the other side.

Actually I invested $29,777 on the project.

The smaller banks are more flexible with lending policies, where you might actually meet the underwriters. 

The 20th podcast reminded me to actually go and do it haha.My goal is just to see what happens currently.

I actually am planning to pull some equity out of my current home to purchase my first true investment. 

remember the 100+ year old part... its a bit musty, but we can fix that)My goal is to hang up the corporate gig in 24 months (and yes, I said that 12 months ago)... now getting some more doors in the portfolio will actually allow that plan to unfold.

If that is your case and there is actual equity to pull out (assuming thats what youre doing this for) then why not help the financing of the second reno?

There isn't nearly enough information on the calculator to give me a real indication of what is actually included in your numbers...but if you're planning for $35k profit...can you also afford to lose $15k...without experience it's possible to have your holding costs be much higher...and your renovation costs be 50% over if its your first project and you don't have actual contractor bids and are just guessing based on having read J Scott's book.