Unfortunately, this relationship did not turn out the way we had hoped, and after falling short of their budgets and projections, we terminated them and proceeded to build out our own property management company to manage the facilities in the fund.

Unfortunately, "traffic and popularity" don't translate well into cash flow and cash-on-cash return.Don't get so caught up in the excitement of "doing" a deal that you miss actually "getting" a good deal. 

Your property might be legitimately worth $1,500 and the tenant qualifies for $500 in assistance, but can only afford to pay another $500 for a total of $1,000, they won't approve $1,500.Unfortunately, you can usually only find both of these out when you have an application and lease signed from a prospective tenant and submit it to the local housing authority.

They can advise you on your options based on your specific circumstances, including how to proceed if you believe he may be trying to delay repayment or if he is indeed facing bankruptcy.Assess the Situation: If he is experiencing cash flow issues, he may be trying to find a way to resolve them.

This set of circumstances is very understandable. 

The concept of the loan is great, I'm just concerned because I see lots of bad reviews about their customer service unfortunately. 

"Oh the customer insisted on buying the materials, it's not my fault"Unfortunately, the contract does not state anything about sub-standard work but if you have any recommendations, please let me know I’ll add it to future contracts.Kilz 2 primer was applied before the paint.

Unfortunately, human nature is such that if I do spend hours, days, months vetting a sponsor, and ultimately sign off on them, I will already be biased to accepting the next deal they offer, regardless of whether it is good or not.  

Quote from @Mark Dutton: Hey everyone, I’m a novice investor and I’d appreciate some advice or insight on my situation, even though I know everyone’s circumstances are different.I’m currently 27 and will soon have three rental properties along with my primary residence.

You're definitely not alone—unfortunately, dealing with unresponsive tenants and unpaid rent is a common issue for many landlords.