Quote from @Kaitlin Scutari: It was not a formal letter. 

She's a single mother who migrated to the US from Southeast Asia and, lacking much formal education or guidance on retirement savings, has been working as a caregiver for the elderly for most of her life.

You should seek a Lender who can provide a formal Certificate of Approval Letter upfront and help Prequalify DSCR properties in advance to simplify the process. 

Ohio is a judicial foreclosure state and the property is up for its first time on the block.   

If the broker knows, and you know, that the client has communicated that they would not entertain any offers below a certain dollar amount... what's the harm in a formal rejection letter? 

I can't speak for others, but I have 33 years experience and a formal credit background from 3 of the largest banks in the world.

To you folks that are paying gurus to learn lending, make sure 1) they actually have a formal credit/lending background and 2) make sure they went through at least the last major crash of 2007-2009 and lived to tell about it.

Thats very formal. 

If as a partner, you had better have your attonrey draft a good JV agreement OR form an entity of which you both are partners, which would also include a formal operating agreement drafted by your attorney.If you choose to act in the lender capacity, your borker will handle all the paperwork you need other than your own internal paperwork requirements.

One, was adamant that it was a bad idea because it would create an equitable interest for the tenant and if they defaulted, we would have to go through a judicial foreclosure, and then evict which could take 12+ monthsThe other lawyer, said it was no big deal and the amount we received was not enough money to establish interest in the property.