The final straw was when my property went into abatement after an inspection, due to the property management company's failure to address tenant requests for the exact items that caused the issue.

Like many of you, I'm a new investor, although have worked with investors for several years, finally jumping out of the nest if you will!

It took 3 years, but,  I finally navigated the permitting process and now have all the permits I need to build 6 small cabins on a river in the mountains.

Cost Overruns: After the final payment, the contractor claimed there were additional costs of $60K.

I only invest in A and  B areas  that usually makes renting some what easy .Having rentals loaned out to the wazoo can cause a lot of stress on owners to rent out immediately  .If the market softens up winter etc...

His solution was to wrap this loan straight into a loan I already had with him.

I work for a portfolio lender as their point person for construction loans, and now I'm trying to grow the division.

There is an "arrears" that has to be identified and paid out of pocket before the sale or the loan needs to be paid off in full. 

The permitting process is expected to take a few months to finalize.

No, it was secured but apparently he used the same collateral for every loan he took out.