He has past experience investing and is well equipped to deal with investment property financing. 

If they do not cover any of the items on the scopes of work completed, then it could mean the company does not focus on quality. 

@KC Conti One of the hardest thing to learn in RE is “you need to lov your money more then a particular property” You seem to emotional attached with this dealNo deal is better then a bad deal

Something to keep in mind with STR, that's tied to why REI is a smart game to play - control is the name of the game.You want to control the guests and rates (vet them in hopes of avoiding property damage, set rates to attract those willing to pay more for quality)You want to control the costs (furnishings, consumables, cleaning/repair/plumbing/electrical)You want to control the property (choice of property, location, financing terms, well or city water, septic or city sewer, etc)This is all going to be very hard to do, if not impossible, if you don't OWN THE PROPERTY. 

PS: The neighborhood you picked is not bad.

I'm simply saying don't give all a bad name because of the few crooks. 

It won't be the fastest way to grow, but paying off debt and having free and clear rentals is never a bad thing!

Anyone here done a similar loan and had a good or bad experience? 

Best recommendations for QUALITY of work, ability to work within the bid amount, ability to follow a schedule, honesty and character are the basis of any contract.  

However I have not spoken with them personally so I am not sure about the quality of services they offer.