Mainly because I can craft the mortgage a little more (no pre-payment penalties, lower down payment, etc.) and eliminate the fees charged by lenders and brokers.One of the benefits of purchasing a listed property is that the broker will normally set the seller's expectations a bit more than you just contacting them off the street.It comes down to what the seller really wants: a certain price, interest, down payment, or term.

The the HOA does not have enough funds, a lender may not lend on it.

To the hard/private money lenders out there.

This means mortgage lenders will generally move their mortgage rates up and down based on corresponding movements in the Treasury bond market.

If you do, keep in mind that selling, without paying off the mortgage, violates the due on sale clause.That means if your lender finds out, they can make you pay the remaining amount of your loan if they want to or they can take you to foreclosure.

Then I would look at reviews here on BP, Google, and Yelp.

SBA lenders are confident the deal is lendable, but SBA rates at prime plus 2.5% are high, and I don't want to risk default.

Ultimately, my goal is to wait for rates to move down and lenders to allow HELCOs on investment properties with a fixed rate.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you're planning to buy and hold, you may want to bring in a partner or private lender in on the deal.