I understand it is linked to a bank but was having trouble discerning how it imports outside transactions not from the partner bank. 

That will get you into trouble.

(Others would be more boring and say it’s just my money earning money.

Even at $1500/month that is $18,000/year… so I’m having trouble understanding $150,000/year unless you are building 10 free and clear rentals?

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

I like going off references regardless of market or section 8 tenant, it really helps us avoid the trouble makers.

It helps you understand the areas where you want to invest, your rehab cost and where you money is going.

The question I'm up against is what private money is going for these days for a build with this much room for upside.

This could save you money in the long run, but requires a bigger initial investment.To help you decide, consider these:What's your current budget?

I suppose he'll either learn to stay out of trouble or implode.