I've worked with tenants in a similar fashion and ended up feeling ok about it but it was short term, over the course of a few months and they paid me something the entire time. 

Borrowers should always shop around, especially in the hard money space where it is so easy to quickly get preliminary terms over the phone.

I do have a small shop with equipment that I use exclusively in fixing my rentals.   

Plus buyers might feel rushed into making a buying decision as the longer they shop, the more hours they are getting billed for. 

Getting a good painter at a reasonable price requires persistence and comparison shopping.

It will hit hard on renewal and shopping for a new carrier.

Id recommend connecting with someone who can help you shop more investment-specific/rental programs on a national scale.

I find that it's almost a one stop shop in that I can use it for my business checking and savings accounts, bookkeeping, for rent collection, I can issue virtual credit card, I can create all the financial reports I need to run my real estate business and prepare for tax filing and through their partners I can vet my tenants, develop state-specific leases and more.

They seem to be electronic brokers that will shop for insurance in a pool of carriers.

It's a small shop and we deal with the owner, no one to escalate to.