Now I need to scale quickly but dont have the years to rebuild if things go wrong.

Very quick response from the owners!

Every deal is different.Franks evaluation is basically industry standard and will get you to where you need to go when doing quick evaluations. 

We'd hoped to do shed dormers, but that would require too much engineering which would eat up a lot of time and not sure HOA would approve it, so we're trying to do the max we can with what's there (minus a few walls) That is going to be another great one for VR or full time living, etc. so should sell quickly, as it's part of SHARC which has waterslides, fitness, boat launch, etc. , and is close to The Village at Sunriver, a big bonus. 

Looking to get into 100+ unit deals as quickly as possible. 

After being exposed to the business I quickly got my license at 19 and I was off.

Chris Seveney I appreciate the quick reply!

I was recently watching a webinar that @Brandon Turner was hosting where he was going over the benefits of using the BP Calculators to quickly analyze deals.

Some banks have different requirements, but two that I work with structure loans as follows:Bank 1:  is a local portfolio lender, requires a 6 month season period, does 15-20 year notes with 5 year variable interest, super quick turn around on refinancesBank 2: is a credit union that does commercial loans, doesn't require a seasoning period, but does require a lease to be in place, does 15-30 year notes, rates vary depending on note term, and they will allow a 10 year period before the rate changes, super slow turn around on refinancesI opt for option 1 because I don't like to be slowed down for 3-4 months waiting for a refi, but I also have a great relationship with my bank, and tell them what other lenders are doing and see how closely they can match the competition. 

Right now it is just open for 10+ unit properties but if it drops to smaller units it would likely get filled up quickly as a 40% reduction in taxes may be worth dropping rent in one 4 plex unit.