This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes.

I personally benefit from this because I understand the intracicies of getting through the aprpoval process and therefore know when I deliver housing, there will be a low supply and plenty of demand meaning I can introduce favorable pricing strategies for myself and my investors.

A paper trail allowing them to see what work was done while also seeing who did the work will deliver more polished products and accountability from all parties.

Not knowing what to do, they probably didn't even know what to say, so they buried their head in the sand.I'm not justifying this behavior, I find it repulsive, but I've seen it so many times in the decades I've been in this industry that I'm just reporting what history has taught me has likely happened here.It sickens me to be the one to deliver this news--the sponsor should have kept you informed every step of the way and failed in their most basic duty--to communicate with investors.  

My biggest suggestion is find a team that delivers a reliable OUTCOME for their people.My team and I help out of state investors create a six fugure passive income in Indy for example, if you think you'd be a good fit for that please let me know and I can explain more. 

They do not deliver the product they claim to sell you. 

So, in your case above 5.5% would cost you 3% or so of the loan amount (the exact number would depend a large amount of factors about the loan and borrower) to deliver that loan to the investor. 

Even if delivered vacant it can take a considerable amount of time to legally de-regulate a stabilized building and it mostly requires you to have the units vacant for a period time (no cashflow).

My insurance guy for the past 2.5 years has been at wits end because he had to continue to deliver bad news on referrals and estimates for new properties.

But no action.The Dominion Group out of NY pulled me out of the funding mess I experienced after waiting for month on Insula to deliver.