The harsh truth is that you aren't looking out for your aunt.

Sometimes this stems from using brokers who have to go shop for loans and do not fully qualify a project prior to issuing a term sheet or a borrower not being fully truthful about themselves or project.

There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself. 

I’d rather have the hard truth than a sweet lie.

@Clayton SilvaYour post has gotten a LOT of traction - because it well written and has a lot of truth to it.By way of example we had two local banks wanting to finance a retail/service center we had recently acquired (this was 3 years ago).  

They have an ethical and licensing duty to be honest and truthful, and they cannot act against their Principal client, who you are not.  

The system will verify valid email and phone so that you are notified with reminders only on test drive, your information is not shared outside of renatus. no real estate business will be operating for your lifetime.. they all have a shelf life.. thinking this is going to pass down to kiddos is just crazy and tugging at heart strings BS Truth.

I’m looking to get some insight and truth to possibly investing in the area of Pittsfield, MA.

Now, if you want the blunt truth, I'd recommend you look at another location for OOS investing. 

Every contractor knows this is the gospel truth.