And what timeline can lender #2 close in? 

Some lenders specialize in this area.Legal and Tax Implications: Consult with a real estate attorney and tax professional to understand the legal and tax implications of owning an STR in a different state.I'm happy to answer any specific questions you have about my experience.

With good software available so readily I'd say nah, but you have a partnership with non-family.  

Getting non paying tenants out of your house in RI can be a lengthy process so you have to choose wisely. 

Hi Dave,The topic is 2 years old which you might not have noticed.Closed at a 7 must have been urban core in a highly desirable area.I am seeing trade at a 9 here with no rent bumps in the primary term.For anyone wondering many tenants are credit tenants.There is a huge difference in that INVESTMENT GRADE tenants are BBB- or higher.The ones below that are considered junk status by many lenders which doesn't make them a bad investment just harder to get financing and more to put down.The dollar stores (there are 3 big brand companies nationally) with other smaller regional knock offs are okay as long as you are not buying in obscure rural locations.The fronts are usually brick facade and the sides are sheet metal.You second and third generational tenant will not have the same per sq ft sales they will leaving you with less of a re-rental return.Having said this I have seen some very nice all brick ones where the city required a certain architecture and look to approve the building permits and process.Those typically run 1 million in price to 1.2 versus the cheaper ones in rural areas at 500k to 800k.

Similarly, looking up deeds of trust, licenses, or other public loan documents, as is often recommended here, will only confirm that the company exists - not that you are speaking to a legitimate representative.

Following this discovery, he promptly contacted his attorney to dissolve the LLC.Additional Questionable Entities:Dogwood Capital InvestmentsM&M Capital Finance LLCKey Takeaways:Conduct Thorough Research: Always verify a company's registration with state and local authorities.Scrutinize Documentation: Examine identification and corporate documents closely for inconsistencies.Verify Contact Information: Ensure that all provided phone numbers and addresses are legitimate and connected to the entity.Be Cautious with Payment: Avoid wiring funds without extensive verification of the recipient's identity and legitimacy.While the majority of direct and private lenders operate ethically, even a single fraudulent interaction can damage your reputation and finances.

The PM advised a public adjuster assess the damage.

BP is a great resource for connecting with lenders. 

Use a bridge lender that is okay with gift funds or Gap funding, then refinance at 3-6 months once it is fully ‘seasoned’