UNDERWRITING · DEAL #BR-2419 · AUTO-PILOT ENGAGED

Meridian Ridge Apartments — $8.4M refinance

Naperville Capital LLC · 128-unit Class B multifamily · Plainfield, IL · requested 10-yr fixed

Elapsed in underwriting

00:08:42

Industry avg · 16 days · Bravo goal · 4 hrs

$8.40M

Loan amount

65%

LTV

1.42

DSCR (computed)

7.46%

Cap rate

A · 86

Composite risk

14 / 14

Documents parsed

End-to-end underwriting pipeline

Elapsed 0h 08m 42s Step 6 / 8 in progress Remaining ETA ~03h 12m

Intake

00:00 · Concierge

KYC / KYB

+00:42 · Onfido

Docs ingested

+02:18 · 14 files

Doc AI parsing

+04:31 · 96.4% acc

Data validation

+06:12 · 1 flag

Risk modeling

in progress

Credit policy

auto-check

Term sheet

Tom review

Document queue

14 / 14 parsed

Rent Roll — Q1 2026

VIEWING · 128 units · 9s

99%

Operating Statement 2024

T12 P&L · 31 items

98%

Form 1120 — 2024

Corporate tax return

95%

Schedule K-1 (x3)

Member distributions

97%

Bank Statements · 3 mo

Chase · ending 4719

96%

Personal Financial Stmt

2 fields need review

87%

Appraisal Report

$13.0M as-is · 114 pp

94%

Property Insurance Binder

Liberty · exp 12/2026

99%

Title Commitment

First American · clean

98%

LLC Operating Agreement

3 members · IL filed

96%

Schedule of Real Estate

4 holdings · $24.1M

97%

Credit Report · Tri-merge

Equifax · 782 FICO

100%

Current Loan Payoff

Fifth Third · $4.18M

99%

Environmental Phase I

No RECs · 2024

95%

Docs › Rent Roll — Q1 2026 › Page 1 / 4

Rent Roll

Meridian Ridge Apartments · 4821 Brookshire Dr, Plainfield IL 60586
Period: January 1, 2026 – March 31, 2026 · Prepared by Harbor Property Mgmt

Unit #	Floor Plan	Sq Ft	Tenant	Lease Start	Lease End	Monthly Rent	Status
101	1 BR / 1 BA	712	Rivera, J.	06/01/24	05/31/26	$1,425	Occupied
102	2 BR / 1 BA	924	Chen & Chen	09/01/24	08/31/26	$1,685	Occupied
103	2 BR / 2 BA	1,042	Anderson, M.	03/15/25	03/14/27	$1,795	Occupied
104	1 BR / 1 BA	712	Martinez, S.	01/15/26	01/14/27	$1,475	Occupied
105	Studio	540	— Vacant —	—	—	$1,195	Vacant
106	3 BR / 2 BA	1,340	Patel Family	07/01/25	06/30/27	$2,145	Occupied
107	2 BR / 1 BA	924	Johnson, R.	10/01/24	09/30/26	$1,650	Occupied
108	1 BR / 1 BA	712	Washington, L.	11/15/24	11/14/26	$1,395	Occupied
…	… 119 additional units (rows 109–227) omitted for brevity …

Property Summary (per rent roll)
Total Units	128 ✓ AI · 99%
Occupied Units	122 ✓ AI · 99%
Vacant Units	6
Physical Occupancy	95.3%
Gross Potential Rent (monthly)	$ 80,420 AI · 99%
Actual Rent Collected (monthly)	$ 77,000 used in DSCR
Annualized Gross Rental Income (GRI)	$ 924,000 → UW file

This rent roll is prepared for lender underwriting purposes. Tenant names abbreviated per privacy convention.
Harbor Property Management LLC · License #PM-2019-IL-8847 · Prepared 04/18/2026

Document AI extraction

Model · bot2do-cre-ocr-v3.2 · 96.4% acc

StatusCOMPLETE · 9s

Property summary

Total units128 ✓

Occupied units122 ✓

Physical occupancy95.3%

Economic occupancy95.7%

Weighted avg rent / unit$631

Rent / sq ft (market-rate)$1.74

Income (annualized)

Gross rental income$924,000

Other income (parking, laundry)$41,580

Vacancy & collection loss−$41,040

Concessions (auto-detected)−$2,100 ⚠

Effective gross income$922,440

Cross-referenced w/ other docs

NOI agrees w/ 2024 P&L✓ $634K

Tenant ACH matches bank stmt✓ 3 mo

Tax return delta3.5% ⚠

Appraisal rent survey✓ within 2%

Extraction confidence

Tables / tabular

99%

Tenant names

96%

Dollar amounts

99%

Dates (lease start/end)

98%

Handwritten notes

82%

AI action: 3.5% NOI delta vs. tax return flagged for Tom's review. Most likely cause: owner-reported NOI excludes capitalized improvements. Added to Exception Report.

Decision engine · bot2do-uw-v2

Credit policy auto-check · Pass · ready for lender bidding

Rules evaluated: 48 · passed: 46 · warnings: 2 · blockers: 0

Composite risk score
A · 86 / 100
Higher than 73% of comparable Bravo deals 2022-26.

DSCR (stressed)

1.42 → 1.21

Holds above 1.20 floor at 12% vacancy + 7.5% rate.

Max recommended LTV

70%

Requested 65% · 5 pt cushion. Cash-out permitted.

Priced rate band (predicted)

6.35% – 6.65%

Top 3 matched lenders: BMO · Northwest Mutual · Citizens.

✓

Occupancy momentum. 95.3% physical · T3 trend up 1.2 pts · concessions < 0.3% of GRI.

✓

Sponsor quality. 14 yrs CRE · $11.4M net worth · 3 prior Bravo deals closed on time.

✓

Market tailwind. IL multifamily cap rates stable QoQ · sub-market rent up 3.1% YoY.

NOI reconciliation. 3.5% delta between rent-roll NOI and 2024 tax return. Flagged for Tom.

PFS field review. 2 liquidity fields need borrower confirmation (87% OCR confidence).

✓

Collateral & title. Phase I clean · First American commitment · no liens · Class B product.

Underwriting audit trail — every step logged (GLBA / SOC 2)

Immutable log

10:24:07 UTC

Credit policy auto-check released deal to lender bidding. 46/48 rules passed · 2 non-blocking warnings routed to Tom.

decision-engine.bot · model uw-v2 · rev 2026.04

10:22:45 UTC

Exception flagged: NOI delta 3.5% between rent roll and 2024 tax return. Routed to Tom Clarke for human-in-the-loop review.

risk-reconciler.bot · rule CRE-NOI-002

10:18:12 UTC

Risk model computed: composite 86 (A grade). DSCR 1.42, stressed 1.21 @ 12% vacancy × 7.5% rate. Cap rate 7.46%.

risk-model.bot · version 3.2 · inputs: 48 features

10:14:03 UTC

OFAC / sanctions screening passed for all 3 LLC beneficial owners. Equifax tri-merge retrieved · primary FICO 782.

compliance.bot · OFAC SDN list · Equifax API

10:11:28 UTC

Document AI parse complete: 14 / 14 documents processed. Average confidence 96.4% · 1 low-confidence field flagged (PFS liquidity).

docai.bot · bot2do-cre-ocr-v3.2 · AES-256 encrypted in flight

10:02:38 UTC

Bank link verified via Plaid. 3 months of Chase 4719 statements cross-referenced with uploaded PDFs — match.

borrower.james.wilson · Plaid token · MFA confirmed

10:00:14 UTC

KYC / KYB complete (Onfido + Lexis-Nexis). Naperville Capital LLC verified active since 2018-IL · ownership validated.

kyc.bot · Onfido ref ONF-2419 · AUDIT-HASH 0x7f2a…c91e

09:57:22 UTC

Deal created from Concierge qualification. $8.4M apt refi · 128-unit · IL · routed to Tom Clarke for advisory.

concierge.bot · session ID c7f3…4e91 · TLS 1.3

Underwriting this deal

8 min · 42 sec

elapsed so far · ~3 hrs to final decision

Industry manual

~ 16 d

Bravo today (analyst)

~ 6 d

Bravo + Bot2Do AI

~ 4 hr

At Bravo's blended deal volume, Bot2Do's underwriting engine effectively returns 3.8 full-time analyst equivalents per year without adding headcount.

Why it works — for Tom specifically

Tom stays in control. AI does the spread, the matching, the red-flag detection — Tom makes every judgment call.
Every decision is explained. Which rule, which document, which field — all trace-able and printable.
Nothing is a black box. Lender-grade audit trail ready for examiner requests on day one.

Tom Clarke is reviewing 2 exceptions

Once cleared, this deal auto-releases to the Lender Bidding Engine with top-3 matched lenders.