However I have heard of outside of the normal 10%, they may charge finder fee for each new tenant, sometimes leading to them not trying to maintain tenants each year, different kinds of maintenance or inspection fees that may not have been initially be clear on.

If the place is a converted single family or a section 8 lease then you would eat that cost.

I’m not saying it can’t work for a first deal.

Banks will not give you loan for a home you do not own for renovation costs. 

I would ask the cleaners to pick something up if needed, pay them for the cost of supplies plus their time.

I have found that Cap Rate valuations are useless when dealing with banks on smaller residential deals. 

The project was permitted with all licensed and insured trades and the gut renovation cost $44,000.

Should I try to find a owner financing deal or private lender not to sure.any suggestions would be appreciated.

Timing of conducting cost segregation study also matters. 

It seems that they are taking longer which impacts the projected timeline and hence carrying costs.