Normally we recommend not doing any cosmetic work for 8 weeks which gives the framing and drywall time to adjust to the new elevations.

We received 2 cost estimates for the rehab along with an initial code analysis to look at the possible elevator and fire suppression requirements.

My banker is noncommittal until he sees the survey and elevation information, but I think I want to pursue this even though it is low lying and may start shopping the Fannie/Freddie lenders even though this may be small fry for them.

Yup you'd really have to study your comparables and know the formula from which the appraiser will use to determine value there are three methods:- Comparable sales approach (residential sales , 1-4 unit income properties)- income approach - 5+ units/comm/indus/office- cost approach - unit/special use properties (chruches, very old, etc)Using comparable sales approach which will be given the most 'weight,' with residential 1-4 unit properties and know the most recent sold properties, the differences, the elevation, the location (back corner, T street, culdesac, etc), upgrades, floor plan, sqft, school district, amenties, how recent the sale was, and how much a reasonable buyer in the market has paid for these variables will determine the value of your home to an appraiser.Ultimately if the home will not appraise we will not lend above and the buyer will need to bring in cash to set the new ceiling on comparable sold properties if they are that bold to do so.

Even with elevation/grading issues I can imagine making 2700 sf work.

So we followed a tried and true method of REI (buy a multi with an FHA) and our success was elevated by the high tourism traffic and high real estate appreciation rates in our area.

I mainly need someone who can inspect the outside structural integrity (walkways, elevated porches, concrete, etc.) and the common mechanicals (i.e. boilers).

AE is a special flood hazard zone but it all depends on your elevation (and amount you carry + deductible) for what the coverage is.

When I see that you come in with those issues mentioned above fully and properly addressed, where I can have confidence in the deal outside your hype, elevator pitch, with  your estimates being valid, having a good grasp of RE, the basics involved, you're going to leave with a loan commitment!

I don't have anything on a business card (don't even have a business card right now), but I would consider myself an entrepreneur.In fact, my 'elevator speech' is that I'm a homewrecker - that makes people stare at me, grin a little, wondering if I'm joking and then they go off on my floor to hear what exactly I mean ;-).When you do major rehab, you have to demo first (wreck), before you can do rehab.