Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

Generally speaking, I think tech like this stuff and social media have lowered the barrier to entry, allowing people to take risks they dont fully understand, whether wholesaling. flipping, lending, etc.

Also never pay any upfront fees and go with a trusted lender who closes through a title company. 

Quote from @Sean Anthony: Quote from @Michael Smythe: @Sean Anthony website is down and Google states business is "Temporarily Closed".Many times these guys just open another company, so his name will be more important than the company name.He's been reported to the FBI, FTC, local law enforcement, and Ohio Division of Real Estate. 

Prices are far lower there “relatively” speaking due to low demand.  

This attorney should handle creation of your PPM and state filing requirements, but they do not handle the PSA or closing. 

Since they are responsible for maintaining the relationship with you after the transaction closes, this approach adds an extra layer of confidence and security to your investment. 

Lowering your standards invites expensive evictions and repairs. 

I believe they are recouping costs associated with loans they don't close.

I’ve been working with several lenders for DSCR loans, but I’ve found that the fees are quite high, with minimal benefit in terms of lowering my current interest rate.