You should be working on both sets of relationships concurrently... then whenever financing that property you get under contract comes up, you make a choice.

Now that you've gone through this, have you set up any procedures prior to buying the property to avoid this?

If our rents were set so that the median house hold in that area could qualify, our rent would be $1180/month. 

The home is in a rural setting and is heated primarily with a wood stove in the basement and electric baseboard.

If you do not have other collateral, then you might set up a "Guidance Line" with the hard money lender. 

Partnering will set you up for long term success.

Closing is set for early December, but lender sees no reason we can’t close before Thanksgiving since we were all set with paperwork and every request for further documentation we jumped on within 24 hours.

Several years ago, I had tenants who took on a roommate without telling me and they set up a bedroom in the basement next to the boiler.

The key is just management and setting up financial structures that will make you feel a bit more comfortable. 

Moreover, set realistic expectations within the scope of their responsibilities.