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. 

Here is an example of that color on a house I have going on the market next week in New Orleans.

Market rate right now is $1200/mo and with renovations (quoted 60-75k in labor) it's hard to say because there aren't much data points, but I think I could fetch $1500-1600/mo.

Quote from @Eric Lahoda: It depends on the market and your skills as a landlord.

In the meantime, I am trying to better understand the Indianapolis (Fishers, Carmel) real estate market and considering getting a realtors license.In Indiana, the cost for the real estate licensing course is approximately ~$580 and an additional ~$80 annually to maintain.

Note that appreciation cannot work as benchmark in high cash flow markets any more than cash flow works well in appreciating markets.  

Essentially you are plugging in all of your data and they are using market price studied to generate your deductions.

HI Kia..very specific to zoning with primarily condos that are eligible that come to market.

The figure we use is based on the appraisers assessment of fair market value for rent in that area.I'm always happy to help.

Hi Eli, A few different ways: 1) You can ask your realtor to put you on a drip campaign for any assumable loans in the areas you desire. 2) If you are looking at something off-market you can ask your realtor to work with their title company of choice to pull lists of all government loans, in whatever areas you are looking for.