Legitimate lenders may charge a small application fee (around $250) to verify you’re serious, but if someone’s asking for thousands with no real intention of closing, that’s a huge red flag.On a more positive note, there are creative financing approaches out there.

With expiration, there is a maximum CAP for the area so new license applications would be subject to a wait list.

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.

We add up the scores and get a total score that reflects the level of risk the applicant presents.

I submitted an application etc but I am going to finish the rehab to get better terms before resubmitting.The back story is that I am about 90% done rehabbing a home for a rental. 

In addition, you’ll be included in their newsletters for additional real estate investing resources.The best way to leverage RentRedi benefits is for rent collection:Tenant applications and screeningDocument and field maintenance requestsE-sign leases Tenant communicationRenter’s insuranceAnd for Stessa benefits: Property bookkeeping and accountingPortfolio monitoringProperty analytics to track historical performanceSchedule of Real Estate OwnedLandlord bankingTax prep support 

Here’s an example of what I've used if they don't qualify based on what's on application. 

I paid the first one and then said that’s more than enough to store all future documents.

In the program, it appears that you offer a Pre-Loan Application-- perhaps this is how the program is legal?