Typically, though, the terms are spelled out pretty well...at least I know they are here in our Florida contract.

Unfortunately this was held way too long due to a number of factors, including COVID, city planning and permit delays, delays in construction and materials, and additional delays by city.

Often times the individual has long since recovered from what caused the derogatory in the first place--i.e. job loss, divorce etc.

They can close in less than 2 weeks but without seeing the deal terms even if you are a stellar borrower they can’t fund guarantee they’ll lend.  

Hamp,I appreciate the advice.Due to moving back to Colorado, I would probably shoot for long term rentals, so possibly medical school or people stationed at FSH.  

Besides, it will be easier to find a replacement tenant in July than it will be in November.Let him terminate without penalty as long as he agrees to let you schedule showings to potential renters and helps find a replacement.

You will get a better rate and terms, experience, and a faster closing going wholesale than you would going with a retail lender. 

I'm okay with the risk as long as I understand it.

Commercial agents build a long list of HOPEFULLY loyal investors that follow them and know when Jay the commercial broker sends them a deal its been somewhat vetted and not a waste of their time. 

I passed because the terms just didn't cut it.