One key lesson I’ve learned is the importance of taking action sooner.

I got news for you, most people in the U.S dont have not even $50k cash let alone $300k cash liquid.......................

Stick with it and take action with their input and you'll end up having a really nice portfolio in 10 years. 

Most investors that have tried to purchase an investment property recently have been shocked by how high prices have remained given the higher interest rates and growing negative economic news.

Have you taken any action yet in doing your first deal? 

I’ve seen landlords who handle this by requiring tenants to show commitment through actions like attending financial literacy programs before lease renewal, which could help mitigate some of the risks.PS: If you haven’t already, consider working with local organizations that offer financial literacy workshops for tenants as part of lease conditions.

PM me and I'd be happy to advise a plan of action. 

Caught the flag on the first sentence "given the loan terms verbally" - Pretty much all the "reputable" DSCR Lenders will give out a detailed term sheet / pre-approval letter / LOI (many different names but same thing) outlining terms and approvals early on in the process - the good news is that if you haven't closed yet you can still switch lenders and see if you can secure your original terms - also good news is that the appraisal, while likely ordered by the lender or broker is in your name and your property, so you can likely transfer it to the new lender

I think most people retain very little information and put even less into action.

Even if the tenants agree, anyone of them can file an action against you.