The price is based on multiple parameters.  

@Travis Schmidt, first I would carefully evaluate the repairs and the costs because that sounds like an EXTREME amount of damage based on those amounts.

The price difference seems to roughly be 200k vs 500k based on what I've looked at.What do you do if all of a sudden you can't swing your monthly payments?

AndrewDo you still have the 3 socket meter base in stock?

Hey everyone, I'm Milos Andelic, an investor based in Atlanta with a passion for finding and reviving distressed properties.

DSCR stands for Debt Service Coverage Ratio and allows you to qualify based on the subject property's profitability rather than your DTI, income, etc.  

Hello Taryn,Have you considered securing hard money for short-term use to complete the apartment scope of work and then refinance for a conventional loan either based on "As-Is" (pro forma market rents w/ no tenants in place) or "As-Stabilized" (fully rented) condition whichever the lender will allow?

Obviously this may vary if you live in a larger city or have different things on your return and based on your preparer.

I would choose an investment focused broker who is Proficient in cost / cash flow analysis models based off of your figures and can provide with a lot of different options.

You can do it as a cashout refinance fix and flip loan based off the ARV or even a 2nd mortgage upto 85% of the current as is value .