If you work with the same lender that may speed up the process but expect a typical 30+ day closing.

Is their current portfolio distressed, or was the majority of their current portfolio purchased at the peak of the market, indicating that they might be in distress in the near future. 

Depends on really what you are looking for:-Speed - some HMLS can go "no appraisal" so can close very quickly and beat cash offers if you are in a competitive market to buy-Interest Rates - can range anywhere from around 8% to 13% (same with "points") but not usually as huge of a concern for flippers since the terms are so short-Leverage - depending on your risk appetite / capital - this is also a top concern for some (almost always over and above rates/fees) can see anywhere from around 80% LTC to even mid 90s LTC (including 100% of rehab budget)

Lots of friends (owning competing businesses) had to go through Bankruptcy recently due to the small market shift that occurred, just bought at the peak and were too hopeful in the market continuing upward.

I was hoping I would not have to go that route, but have already brought my attorney up to speed.

Speed and cost/tax-efficiency are usually mutually exclusive.  

High occupancy rates can indicate a profitable rental market.Seasonality: Analyze seasonal trends to understand peak times and adjust your pricing strategy accordingly.3.

Had 13 units at our peak and made a lot of mistakes and learned a lot. 

If they would open it up to dealing directly with the bankers, the speed of the recovery would pick up steam very rapidly.

It will speed up the process of finding no-competition deals faster.