but if you have $0 in savings, thousands of dollars in credit card debt, and have never set foot inside an actual house for sale, you have no business paying for coaching, or buying houses. 

The process is getting allthe information together like the 1003, credit authorization form, bank statements, income statements etc. they will underwrite the file and confirm the borrowers ability to repay.What state is this in?

What is the credit requirements they look at?

And pay another set of closing costs.If you do have to refinance in 5 years, the main concerns would be to make sure your credit is good for the refi. 

Closed-end private equity style offerings generally have very different liquidity profile than a private credit fund (or interval funds), where the investor lock-up period is generally longer, with most of the returns being generated at exit (or back-ended).

Investor buys in a  market that has poor fundamentals and is stagnant.

I have great credit, killer salary, and a bunch saved up but still can't afford a 20% down payment on anything over 600k. 

If you have decent credit (north of 680), you should be able to get 75% loan to value, assuming the DSCR is met (usually a 1 to 1 measurement between the PITI and the Gross Monthly Rental Amount).

Unfortunately, appears you've gotten exactly what you deserved due to your poor screening.Hopefully, you've learned from this painful lesson.Hire a well-screened landlord-tenant attorney and evict them and sue for damages.

They also have accountant access to my bank accounts and credit cards, so everything gets reconciled.