Usually lenders will look at the past 2-3 years of real estate activity and a schedule of addresses you closed on to confirm that experience.One way to secure better terms is to partner up with an investor who has recent experience.

Not sure if we have any regulars on the board with event venue spaces.

The issue is fluctuating income, you could have 30k first quarter and 5k second quarter, in short, lenders will not know if you can pay 3 months of mortgage on that second quarter, whereas if it is a W2, they will know that you will have the paycheck regularly and more assured you have something to pay their debt with.

Hi EveryoneI've came across Bigger Pockets via the podcast on YouTube which I've been listening to at work on a regular basis, so I've decided to get more involved and join the community! 

Just stick your drain hose down there and make sure it’s secure enough that it won’t come out. 

Highly recommend a video doorbell to keep an eye on the property, makes sure cleaning gets in there on time and just general security.

@Paul WinkaFirst and foremost - you shouldn't lend that much without it being secured. 

An SBA loan is different than a regular loan. 

I'd just suggest that any friends sharing your post don't promise "security" or a "quiet area" as that can get you in trouble.

I can't loan them the $40k secured by the house because its not in their name.