They will evaluate the contract with the builder and the budget, make sure it falls within market median costs, and set milestones for draw requests. 

The cost per unit is actually below average for Reno and maybe bit high for that location. 

In most cases your better off buying with "All Cash" and then you can use a "Delayed financing" program to get up to 80% cash back LTC loan to cost.

Our Playlist Beta Membership gives you access to the following: 🔐Unlimited audiobook downloads of 37+ real estate investing and business books🔐Unlimited ad-free podcasts including Real Estate, On The Market, Money, Rookie Business, and DailyI'm sorry for the confusion and would be happy to clear up any more questions!

In 2023 they made many changes to the building code so you really need to consult with an ADU architect that knows the code inside and out.

We had to buy a new fridge for our rental property, which cost about $1000.

What are the operating costs associated with this ?

There are a lot of programs available to help with renovation costs being built into the loan on a primary residence purchase.  

I paid cash, but borrowed 30k from a family member to cover some extra costs and renovation, the HOA fee is $135, and I pay my family member $500 a month until the 30k is paid off.

The intent is to cut down on the cost of applying for rentals, particularly for renters that have to apply more than once in a competitive market.Do you support this?