He and I host the RAL Room assisted living podcast as well!

Many banks wont touch deals that are sub 90% occupancy, so you could negotiate short term seller financing to help give you runway to make the building bankable for a refinance while you reposition it.

I know, I get a lot of different kinds of checks because I work with corporations, schools, banks, jobs, etc.

The moment the first payout hits your bank account, all that goes away.

@Hellen Sut in Michigan, once we have a money judgment, we try to garnish: wages, bank accounts and their state tax refund.

Brandon Turner and Scott Trench were gracious hosts when I was a guest!! 

Once my architect produces plans, the bank will have my property and ADU plans appraised.

I know they have a cap at 10.We have also looked at using local banks in the area but those terms are usually 3 years arms to ten year arms and 20 year loans so it lowers cash flow significantly. 

As I studied earlier, the first thing you should do is marketing, then get a call and do a property analysis to understand if it's profitable for you, then meet with the seller and sign all the necessary papers, then if there is a debt in the bank we do a reinstatement quote, then do a title search to check if there are any hidden debts, if everything is fine we look for an investor or flipper and sign an assignment of contract with him and wait for closing to get our money.

In response to your original question, closing agents should handle private loans just like a bank loan.