This should be a very easy one...

Only issue is water level is 1.2 instead of 1, which requires about $150K in work done on the land.
Old warehouse to be converted into 4 unit residential. Each unit will be at $500K on the ARV.

Total loan request: $300K (includes costs of water level fixing)
Current As-Is value: $600K
50% LTV
ARV: $2 mill

Please PM if you are a lender interested in this deal ASAP.