But most prudent investors would never take a second position at 100% LTV on a newer investor with no skin in the game with whom they have no pre-existing long term relationship.

Thanks Chris, Yes I agree, I think the best route for me is to find a pre-existing cabin. seems clear that a good view and "privacy" would be big factors for success in this area of rentals. 

Made it very private be adding 90% black mesh around the pre existing and ugly chain link fence and segmented part of the front of the lot by building a wooden fence.

There is a bit of value in preexisting tenants so you don't have a bunch of vacancy up front that you'd have to eat. 

Sponsors must have a pre-existing substantive relationship with investors for those deals. 506(b) deals cannot be publicly advertised.

We are just changing "rate" and the "term" of the pre-existing lien. 

They are saying the issue was preexisting since they aw dead ones but I lived there 2 years and never had a problem.

Initially, we went will Wells Fargo since we had a pre-existing condition...

They are out there, you just have to network and connect with them first; the SEC requires that you have a pre-existing relationship when you are investing into a syndication as a nonaccredited investor. 

In those cases, we either had some form of an edge - pre-existing relationship with the broker/seller, track record which provided surety of closing and/or more aggressive non-monetary terms (less days to close).