Your PM absolutely failed and you can not allow them to use COVID as an excuse!

I won't go on, I just don't like unethical people, rich or poor and the size of some business is no excuse as far as I'm concerned.I have mentioned before on BP that I did loans for most of our FBI agents in this area and I was rather instrumental in chasing some "registered lenders" out of town and charges against others.

I could present the promissory note to the lender and somehow negotiate a lower interest rate and keep the spread.I'm a novice real estate investor (only a few properties and 26 years old), and have no experience in private money lending so excuse the questions if they are not practical.

My GFs family is from Maine I would love for the opportunity/excuse to visit them more often.  

Not that it is an excuse...

Yes the lenders can certainly call the loan if the equity is less than what was agreed upon when they initially gave you the loan They could even call the loan if the DCR (debt coverage ratio changes) All these conditions are set in the language of the mortgage note In 2010 and 2011 this happened in many areas of the country and was the excuse for the federal regulators to shut down some banks and turn over their assets to the big four (Wells Fargo, Citibank, JP Morgan Chase and Bank of America)

Again, that is so weak an excuse I'd run it past the TX REA and prove me wrong since I'm in OR. 

The answer to that will likely be revealing (hint: if they say there’s no time for that or make excuses, pressuring you to move quick, that should tell you everything you need to know.

Not making excuses and just getting things done.Run an analysis just like you would a real estate project or investment for college.

Besides, ignorance of whether you got the permits is no excuse for the contractor if he/she is licensed to do work in your town/state.