Borrower is an experienced investor under contract to acquire the subject property for $91,500 with intentions of spending $14,857.5 on renovations before listing the property for resale. Subject is an SFR and is appraised for $95K As-Is and ARV of $120K evidences a solid ROI for borrower of just over 9%. Loan structured in accordance with the qualification model. Initial advance 73.91% LTC & 71.19% LTV. Total loan amount 68.74% of ARV.