Brokers have their place in the industry as do retail banks/mortgage bankers.

Although I don't have much experience in this field yet, I am passionate about real estate and hope to continuously learn and grow in this industry.

I do not think they regulate this strictly on other industries like food service, or even medical.Sounds like the mayor or city planner or someone "important" had a bad stay at a STR somewhere.

@Jared Galde Are you open to PM, I am curious and want to learn more about this industry?

If your 5th deal is good, you should be able to find funding outside the banking industry.

Pretty solid appreciation in that area with an average of 5-7% per year, and it's also close to a lot of industries like the Chrysler plant.

I recognize how much work is needed to succeed in this industry, and thanks to the US Army working hard has never been an issue for me.

Any new commercial, industrial projects nearby? 

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Coghill they are trying to take care of several things:1) Approval to access credit reportsA video tour of my home office (required by the credit repository to show security, so access to office & computers is limited to avoid data theft)Credit checks on me and my partner (required by the credit repository to make sure you are not criminals looking to steal others' data)Copies of the deeds for every property we own (required by the credit repository to confirm you aren't just self-serving)A copy of my partner’s home lease and utility bills (required by the credit repository to prove his legal address, so they can pursue him criminally if he steals data)Business phone bills (required by the credit repository to prove an actual business)2) Approval to use banking ACH system to accept tenant payments and pay ownersBusiness phone bills (required by banking industry to prove business legitimacy)A signed letter from the bank verifying our accounts (to prove legitimate business banking accounts.