I just found out from the year end financial transactions , my tenant has been frequently late with rent payments, but some how pays the whole rent with late fee in fragments by the end of each month.

Complexity also brings about fees - fees to set it up, and fees for annual compliance, and annual registrations for each level.   

They said that they have interest rates, 2 points and absolutely no other fees.

The sometimes higher rate and fees is due to the lack of GSE federal guarantee that conventional loans have versus access to "how much money the bank has access to". 

Our goal is still to double investors capital in 5-7 years and that is a big factor in qualifying a deal, which is why we only bought 1 apartment building in 2023. 

Late payment fee is negligible. 

Commission is a flat fee or %.

Interest rates aren't a factor since we can refinance and are factored into our deal analysis.Subdivisions: We do Country subdivisions. 2 acres up to 20 acre lots.

In my market at any time, I could probably find at least several active advertisements where someone is trying to scam people out of AT LEAST application fees perhaps by requiring they apply before seeing a unit or possibly even move-in money.

If you are looking for true private money (no broker fee or points) most will not lend at a high leverage. 60-65 LTV max Now if you have experience, plenty of reserves, and the deal can be 100% financed based on the ARV, then you can present it to a hard money lender and they may feel comfortable doing it.