Plus, you will gain more equity in a shorter amount of time.

The exact amount that you qualify for is a specific number. 

I see some lenders out there would just pick the "lowest" rate and the client ends up paying more than 1% of the loan amount at their closing costs.Key point is "Lowest" rate does not mean the cheapest rate  I have worked in traditional community banking for over 7 years.

We found ourselves wasting an obscene amount of time doing our due diligence where we doubt that the vast majority of bidders actually understood the costs involved in the rehabs.

One major lesson learned is that commercial financing is no where close to residential financing and that you need to give yourself a decent amount of time to line things up.

I wouldn’t go as far to say it’s a scam, but the amount they’re taking as a cut is unheard of in the industry. 

Earlier this year, we were also posted on Booking.com, and while the listing did produce several reservations, it came with a huge amount of frustration and more last-minute cancellations that we've experienced (significantly more as a %) than the other 2 booking platforms, Airbnb and VRBO.

It just needs to be rent ready as the appraiser will do a rent survey and that rent amount that the appraiser comes up will be used to structure the loan- more on that below. 

Land has become very expensive and there is a already huge amount of condo projects in construction or planned, which clearly amounts to massive overbuilding.

Sometimes, it’s just a misunderstanding—maybe they thought the amount was prorated, or they ran into an unexpected issue.