"Before borrowing money from a friend, decide which you need most".

We rarely have issues, but it seems like such a small investment in time and money to take one day to verify. 

As a side note, FDIC insurance protects depositor money, not debt.

I left them recently like many others have in the last 5 months and even though our money was technically an investment and a limited partner contribution, they refused to give anyone their money back even after stating numerous times they would give people their money back if they choose to leave. 

You'd be surprised to learn that someone living in a rental or apartment, that has a family and is a successful small businessman, has the money and is willing to take that deal.

If you didn't actually get any money, how do you know for sure they are a real legit lender? 

Maybe they don't need the money now but in 5 years they wan to send a grand child to college.

If its a Class C I'd go for a more affordable unit, there's no point in putting in more money than you have to. 

If you’re not in a rush to tap your equity, holding off until rates come down could save you money in the long run.

But it also is a money pit if you don’t have the experience.