We are still doing a ton of fix and flip loans there and the numbers make sense for the banks.

You are borrowing money from a bank.

I am also a lender, with Chase Bank, but want to expand my knowledge on hard money and private financing options.

Most US mortgages are based on 30 years and without assurance on insurance, why would banks continue to make mortgages in higher risk areas if the potential is complete loss?

I think I would probably talk to an attorney tbh these business purpose non regulated loans do not have rate locks that have to be honored legally.. they can and do change them unilaterally.. borrower accepts counters or declines and loan fails. 

One of the cool connections I've made is with someone that has over a million subscribers to his YouTube channel that is now working with me to take my channel to the next level.Proverbs 15:22 teaches, "Plans fail for lack of counsel, but with many advisers they succeed."

Brighton Bank is where my MLO license is at.

Get a bank statement to cross-reference their paychecks as most employers now direct deposit.You'll also see if they have a savings history or are living paycheck-to-paycheck.If they are not paying rent right now and have no savings, how well do you think they'll be able to adjust their budget, so they can pay rent on time?

There are two types of borrowers that fail at a much, much higher statistical rate than any other...1) borrowers with little experience, and 2) those putting nothing or very little down.

I had a local bank provide a 1031 without fees.