Is there any reason the owner would be against it?

I assume you have never done anything like this before, so getting a bank to take a chance on you with so little equity in the deal is going to be next to impossible.There's  reasons you don't see a lot of new 4-plexes going up.

Madison is a super solid area for several reasons.   

I personally don't invest in MSP/STP for varying reasons but it is clear that the city agrees there is a housing issue. 

The room layout must be reasonable for a residential home.

Which is another reason I think giving away 70% of the profits for just the 25% down payment is unreasonable.

Maybe they owe you some money and don't want the confrontation.No matter the reason, it doesn't serve any purpose trying to guess what you'll find.

I wanted to hear other perspectives because well the one application was 60 minutes earlier isn't much of a reason.

If the stairs are now stained I would leave it that way and only touch up what is already paintedI don't see any reason to do anywhere near a 10K make over.

When i call back later, when im available, i always apologize and say i was doing a walk through or looking at another property lol @Nzinga Augustoi personally wouldnt do #1 or #2 for a couple reasons, Lets say you get a call at 830 Am and the VA sends you the info......you cant call until after 5 anyway.......same thing your voicemail would do...........also, i would keep your costs low until youre getting consistent deals.......just my opinion.