I'm happy to pay for systems to save time and guidance but the fee seems ambitious and I don't love the idea of forking over large percentage of profits to be told what I can and can't do with the company. 

About 90% of the time they fail to meet HUD guidelines.HUD guidelines require that to qualify as an Emotional Support Animal, the prospective resident must have a letter from a licensed health professional, licensed in your state, in which the health professional acknowledges they have a relationship with the client that was more than just one session. 

What should first-time investors be aware of when considering these types of loans, and what tips would you share for navigating the process successfully?"

I have been interested in long-term rentals for some time and looked at fix and flips when I was much younger.  

The way Wayne County PA handles its OTC property inventory is to hold auctions four times a year.

You'll find that many won't spend the time to consider your $375k loan.  

If you are not going to be a lender full time and do not have any experience in the space, passive investing in a fund is the way to go. 

here are a couple charts comparing a few of the markets mentioned in this threadthe first shows appreciation and the second shows "rent to value" ratio over time

its not guaranteed until the title commitment is done and in hand.. lenders want that a few weeks in advance so they have time to review it and check that there is nothing on title they dont like or is a deal breaker to funding.. they dont want to do all the work then have one day to review and approve title. these companies work just like a bank  they have set process's and getting title commitment and funding  same day is not one of them. now myself I will without title insurance.. and rely on a trustee's guarantee and my borrower if something does not go right then my borrower has to make it right.. so it takes a very special borrower that has that capacity.. and or have earned my trust.

Specifically, it's 3 days quicker than last month and if we compare this to the same time last year, the current median of 37 days is 12 days slower than it was in July 2023.