The lack of clear communication from the lender left us in the dark, wondering if this deal would ever see the light of day.The night before closing, we were still in limbo, with no confirmation that the deal would go through.

I ended up owning about 250 of these.. and having to sell them off taking loss's virtually everyone of them it was a blood bath for us HML in 08 to 2010.. and not anything I want to ever repeat.. those that started lending HM post 2011 have had the rising tide great market situation but even with the good market people fail all the time for various reasons. 

What ever you think you are in for there are always surprises.

Just want to be clear that at no time was I ever considering renewing their lease.

I don't ever want to retire and I don't work a standard 9-to-5.

@Tommy Brant, regarding your last comment about conservative underwriting, not only is that an entirely overused statement, but also, do you think you will ever hear any syndicator say "we underwrite very aggressively"?  

No bank has ever asked me for previous personal financial statements; they always want a current one (in the last 6 months).

Still one of the tallest-ceiling, lightest and brightest Seattle basements I've ever been in!

Best of luck with this property, If it goes well you will be ready to refinance into a better rate and your next deal when ever we see better rates come back.  

On the other hand, I feel one of the main advantages of passive investments (via syndication/crowdfunding) is that I can hire a manager who has years more experience than I can ever hope to obtain myself.