Cosmetic upgrades only seem to take minimal value from a house these days, but if there are major structural or mechanical issues, you will likely take a bigger hit on the price you can sell for.Regarding the photos, of course stage first before photos.

I have received two account statements, both of which were incorrect/incomplete, and have had minimal uninformative contact with my investor rep at the PM firm.

Seems like you have minimized your risk and have a few options moving forward.

My residential construction experience is minimal, however, I have served in the capacity of owner, owner rep., and GC on some respectable size commercial build projects.

It is lucrative, less risky and requires very minimal involvement on your part.While real estate is a non-liquid asset, the benefits of passively investing in multi-family properties through real estate syndication far outweigh being illiquid.

Properties around the $2200 and higher seem to see less increases in rents over time and the increase in rents as property prices increase are very minimal or slow. 

Buy/hold for appreciation with break-even or minimal negative cash flow. 

This will allow you to buy a home that needs repairs and it’s all backed by the govt, in addition, there are great minimal downpayment requirements.

My budget is around 900K-1MM for a 3-unit (with a 20% down), post-renovation or assuming minimal renovation (taking at most 6-months).

Hi Chelsea,You bring up a good point - if minimizing the cost of capital is your goal (and it's a reasonable one), then the bank you found might be a good option.There are a couple of reasons why real estate investors might opt for a private or HML in your situation;1.