Make sure they’re a true lender (not a broker), request a clear term information with no surprise fees, confirm they regularly work with first-time flippers, and ask how their draw process functions.

It does not to the listings and some other functionality you mentioned, but I don't know of other great software for banking paired with accounting and one and free-to-tenants rent collection.

For the majority of these older multis, 12% is the number I see most often, because it accounts for systems that are still functional but clearly nearing the end of their useful life.

At this price point, functional/financial vacancy tends to run high, so underwriting conservatively is smart.

Strong retail buyer pool, faster DOM, and cleaner comps                                                                            Buy Box (Beginner Friendly                            1965–1985 builds                                   Mostly cosmetic rehab           No cast iron plumbing                                        Minimal foundation movement                                                 Roof/HVAC functional or newerThis combo helps keep surprises (and margins) under control.• Rehab Budget: Newer flippers succeed most often with $25–$45K cosmetic scopes.

BP has a poor lookup function.  

I use Innago for some of the tenant-facing functions, and Baselane on the back end to complete the picture so I'm ready for tax strategy and on top of property performance.

Since I plan to hold this property long-term, I don’t care about increasing official square footage, I just want a functional space.Question: Has anyone here done a “garage upgrade” or ADU extension like this, pulling permits for essentials (bathroom, electrical, replacing garage doors with walls/windows) but keeping it simple otherwise?

The ways around this are usually: (1) switch from replacement cost to actual cash value (ACV) or functional replacement cost, so the insured value better matches the real economic value, and (2) use an agreed value/stated amount endorsement so the company agrees up front to a lower limit without hitting you with a coinsurance penalty.

Each improvement was designed to increase appeal, enhance functionality, and position the property competitively for resale.What was the outcome?