This generally limits you to local lending that have slightly higher rates and only offer 1, 3,5,7,10 year arms that reset at the same interval.Doug

This is why it's really important to have an agent you trust explicitly.

Most likely if this is your first go at raising money, I would stay in a arm length transaction, aka 506B. 

If it's not prescribed and you explicitly stated in the lease agreement that they were only allowed 1 pet in the property, that's when you have more options like telling them they're in breach of the lease and having them resolve the issue by getting rid of one of the pets or complying to any additional pet fees you may have.

I chose to go with the NEFCU arm loan instead which only required 5% down with no hoops to jump through.

I've talked with enough sellers who have experienced a sale falling through that part of my negotiation discussion is to explicitly say "this number is low because I will guarantee a close at this number".

Working on my first fix and flip that cash funded but have a couple other pipeline deals that may require lending and outside of conventional lending looking to network and get my arms around options.  

It's a been a great shot in the arm for our local economy and real estate values overall.

"One Arms Distance" is a term that conventional loans use to describe a separation of interests in the loan.  

I guess I jumped the gun by extending the special before it was explicitly sent out by regional, but I did so with good intentions, unaware that the 24 discrepancy would turn into an ordeal.