Another common problem is poor due diligence—jumping into deals without verifying the borrower or collateral often leads to future regrets.I’ve also seen over-leveraged borrowers cause trouble, prioritizing other creditors over private lenders.

A couple questions:1) Has anyone worked with local lenders like a local bank or credit union?

Networking with local investors through BiggerPockets, Facebook, and meetups can help you navigate the market, while avoiding common mistakes like underestimating expenses, poor tenant screening, and hiring the wrong property manager.Good luck!

I have the credit, experience and the knowledge on how to underwrite the deal to show their ROI in this arrangement vs a traditional sale. 

It took more time and back and forth communication than was needed, and compared poorly with other refinancings we have gone through.

Anyone over 18 fills out has to furnish their social security and driver's license numbers, and pays a fee for a credit / background check.

Full credit/background check:  Look for missed payments, and any theft is always a no go.2.)

this is basically the business credit coaching partner that works with you over the course of 12 mos. to help you build up business credit for your company. 

When you tell them they will only get paid when the loan closes, they will disappear.If required, the only money you should ever send to the lender is for a credit check.

They offered to give me a credit on a future loan.