It can go over that amount by a certain percentage in different categories, but they only pay out on those overages if you actually rebuild, not if you replace by buying a new property.

I wasn't sure which category to post this under.

Would the property fall under the multi family category in which I would have to put down 15% on a conventional loan instead of 3%?

The problem right now is that most, if not all GCs worth their weight are slammed right now.For my BRRRR I brought in a few contractors during my walkthroughs, before I picked up the property.

We have people in default prior to covid who's lender just paused the process, seemingly not looking to be the bad guy foreclosing at this time... if these people were already behind, now add another 15 months of missed payments, they are screwed.. these dont fit in the category of the moratorium being pre-covid, just like Non-federally backed loans don't fit either.. 

It’s not all they do, of course, but for 1-4 families they do put a lot of weight on the sales comparison (comps) method.That might be a more economical way to approach it than paying for two appraisals (your own and the lender’s).

I didn't know there was a network category on BP.

I don't really know if this is the correct category but here it goes.I am new to the industry and currently just looking to check some properties out as a bit of practice - I probably won't be investing anytime soon but I would like to try to get a bit of practice finding good areas and maybe just checking out some houses in the areas.As I travel I think it might be a bit difficult to find areas of interest because I won't have long term local knowledge of areas.

I’m passionate about medicine and it is an extremely rewarding profession, but the emotional weight of being a healer takes a toll.

@Joshua Christensen, the reason stories like yours are fairly thin on the ground here at BP is that they're often put in the category labelled "Expensive Hobbies", rather than the category "Actions Towards Bigger Pockets".ie.