The process is pretty simple, but it does involve extra steps compared to a traditional rental.

They were very light and didn't last long. 

As for finding better financing terms, look into portfolio lenders or credit unions—they might offer more flexibility than traditional banks for investment properties.

He purchased the home for $63,000 and put $20,000 into a light rehab.

While it provides a steady income stream and potential appreciation, it demands active management, thorough tenant screening, and may involve higher vacancy risks compared to traditional leases.

Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.

But if I wanted lights and refrigerator etc, I had no choice but solar, this is why you're correctly alluding to the rural aspect.... 

The property is undergoing a light rehab (new paint, new LVP flooring, new toilets, new kitchen, new vanities etc).

traditional Lessons learned?

I MOVE AT THE SPEED OF LIGHT AND PEOPLE ARE MORE LAID BACK IN OHIO.