What he meant was, he already knew it was a great deal and advised me not to get caught up with over analysis and miss out out on the opportunity.

Best,David T. 

Property needed some TLC as it had some termite damage and active infestation at time of move in, got quotes from contractors to replace some studs but all quotes came in too high so ended up doing most of the work on the home myself which meant the home sat vacant until January 2025 at which point i placed on rental sites but still waiting for vacancy to be filled.

What he meant was, he already knew it was a great deal and advised me not to get caught up with over analysis and miss out out on the opportunity.

Though the upfront fees are definitely a factor, if I could share my experience (both as a lender and investor)...APR is meant to be an annualized reflection of the total costs incurred over the duration of the mortgage. 

I think @Brian G. and @Jaycee Greene hit it on the head: an event occurring/debt resetting.When the debt forcefully resets on some of these assets, valuations drop if the submarket cap rate has expanded and/or if the operator can not show a good t-3, t-6 etc due to economic vacancy and rising opex (insurance, r&m etc).If the operator can't inject equity to cover the difference, then trouble arises.

Quote from @Brent T Galbreath: What did you write off? 

@Henry T. 

Not meant to critique but we flip and sell a lot and here are some things that would probably help:1.

I believe this contract was meant for those who cancel within 3 days, which would entitle them to a refund.