I admit that the allure of interest-only payment to drive insane profitability from cash flows is attractive; however, I don't see a standard process that the lender follows, but it may just be the affiliate/broker representing them who isn't very formal. 

To make deals go through, you need to get along with buyers and understand what drives them.

I will make certain to tell them our story and to warn folks to proceed with extreme caution whenever an "investment" opportunity comes their way from Scott and I will cite this very experience to drive the point. 

I think some of your exit strategies could be to reposition and add some unique features to your rental to attract more renters and potentially drive a higher price, 1031 exchange and move it to a different area or even market.

It can drive you crazy if you let it.

We know there are multiple venues to get the leads, some very costly others not, some demanding tremendous effort (like going door by door, driving for dollars , or making thousands of cold calls etc.) , others not so much (mass mailings, for instance).

We do 20 Flips/BRRRRs per year and use these tools:Underwriting - DealCheckCRM - ClickUpProject Management - ClickUpBookkeeping - QuickBooks Online Plus Team Communication - SlackFile Storage - Google Drive

GET LEADS: You do this by using free methods such as driving for dollars or networking if you don’t have any money to spend.

A couple of years ago I financed a car wash with four self service bays, two drive through automated bays, and a detailing station.  

The seller was the original developer that had owned these properties for decades.There was no underlying flaw or hidden upside that would drive this behavior.