The folks there are quite friendly and helpful on the phone, just call them and ask. 

Unfortunately, they employ this tactic and get over on folks all the time.  

If this were me, I would first go and talk to actual folks who have lived in this builders properties for X amount of time (hopefully a year plus) and see if they've had issues, specifically water intrusion.

@Brandon Turner didn't start his investing career with zero income and most folks don't.

We've been teaching folks new to the Self Storage business for many years now.Self Storage is a great business in which to build generational wealth.

Folks, most realtors aren’t trying to scam anyone.

Hey @Thomas J Mele,  maybe PM me with more details... and @Amy Turnbull, we have a small but great group of folks at every level that try to meet up once a month. 

Typically folks will get a high interest loan initially because the property is at a discount and wouldn't fit the criteria for a traditional mortgage (fixer upper, cash only).The refi portion is to place a traditional mortgage on there so that you'll have a manageable monthly payment which rent will cover as well as cash in pocket due to the equity that was present.The goal is to control the property with as little money down as possible while positively cash flowing so I'm not sure if get 2 traditional mortgages accomplishes what you're looking for.

They chose to close up shop.Having worked at lenders, hearing complaints from folks like you, I can only say "seen it, done it", and if I was a lender seeing a guy with a good story, like "the numbers tell me I should net $1,000/month", take it with a grain of salt, but insist on maintaining your requirements, unless you're a billionaire and writing off $150 million is no big deal. 

I've seen some folks start as wholesalers because they have the experience but not the cash.