This borrower is an experienced investor who acquired the subject property for $300k and spent $436,900 on renovations, and will hold it as a rental property. Subject is an SFR and appraised for $300k (as per Appraisal Report, As-Is Value is $330k and ARV is $1m) and ARV evidences a descent ROI for the borrower of over 34.07%.
Take a look at these before & after pictures to see what an incredible transformation this property had: