I was discouraged that traditional banks required 2 years of taxes so I obtained financing from private lenders.  

I do always want to keep my doors open on how I fund the deals, the hard money/private money route was just too expensive and probably more of a hassle than paying the 3-4 points upfront (3 points on 30k = $900). 

A lot of what you're seeing has to do with market dynamics: increased competition, limited supply and REO trading direct to hedge funds/PE through private deals (vs auction or MLS).   

@Gordon Cuffe I went on the site and the houses that are going up for auction it says since they are being foreclosed it can't be sold privately only public auction.  

I placed a back up bid on a property site unseen.based on a property  I purchased one year ago,the property is a 3 bd with a converted to a one bed rm studio apt.I recently rented the property I purchased 1 year ago for $925 which I'm looking to refinance the private money.purchase and rehab I have about 40k in itThis other property I would be around $50K but I have a 1bdrm unit that would rent for upper 5 hundreds  possible  grossing  $1400 monthly.

BP world,I am looking to get financing for several upcoming deals, however finding honest and fair private financing can be a bit of a challenge and convoluted.  

Students will generally treat their rooms and private bathrooms well, but the common areas get destroyed.

If you would like to send me a private message with the details, I may have an interest.  

It has city water and private sewer (septic).

We were in Silicon Valley in the '70-90's and the market is not for the faint of heart.There can be issues for agents/brokers that private investors don't have to deal with, so IMO, it's questionable if an RE license has any added value.