Quick update, I spend an hour on the phone with SBA and spoke to 2 different reps.First rep read off an "internal" list of approved and non-approved uses, but was unable to send it to me nor point me to any documentation online that gives specific examples.

The meeting will start with a market update from everybody's favorite local analyst, Tina Tamboer of the Cromford Report, and then will move into an update from a property manager, lender, etc.

Some minor needed structural repairs, cosmetic updates throughout duration of habitation.What was the outcome?

Would I be better off buying a fixer upper and spending money on updates?

@Corey Stubbs "update" and "quote" are the only two options  I have

there is a duplex that I am looking at. it is good but doesn't meet the 1% rule, it is more of a breakeven deal. it got its pros and cons:pros: -walking distance to a good school- currently renting at the max potential and seems to be updated so not much rehab is neededcons:- on a major street- not much improvements are needed so it will be hard to add value and recoup my initial investment plus it is not really a cashflow maker. 

I have the money for a 10% down payment but that will be all my money with none left over for repairs or things that need to be updated. 

I will update everyone as it plays out. 

I send monthly emails with property updates, which include vacancies, number of units that we’ve renovated, operating income reports, and more.

I owned and will continue to own tenant search and screening, home upgrades, maintenance, lease writing, local permitting, and other administrative functions.The property has been repainted, some light fixtures are updated, keyless locks installed, blinds replaced, and granite countertops installed.