So even hard  money or private lenders wold be hesitant to loan without an appraisal to justify the value. 

Any thoughts you might have on navigating that I would appreciate.I am just a bit stunned a the hard '4 property' rule for how I was expecting to exploit the equity, but then I realize that most lenders do not even offer this product.Followup - it does seem that Wells will do this, but at a 60% LTV only. 

@Thomas Cottrell welcome and if you presently live in Wichita have you ruled out investing there?

They have much more units so I'm not expecting my taxes to go that high but is there a rule for this on how much it would increase?

In WI the standard contract is the WB-11.#3 USPAP (Uniform Standards of the Professional Appraisal Practice) is the rule book which all appraisers must follow.

The IRS is specific that this rule applies if two conditions are met, it must be used for personal as a residence and rented less than 15 days. 

Banks opening accounts for US taxpayers, including a business, have much stricter KYC BSA/AML rules and documentation they have to complete compared to prior to Patriot Act.  

That way for little money, you can greatly improve the curb appeal of the house and justify raising rents on the property, adding more to your income.Let me know if you have any more questions

Also make sure you check to see if there are rules for rentals.But yes, the outside maintenance issues will not be your responsibility with condos.

Just want to make sure what the rules of the lender are BEFORE you go into something like that.