Basically its no different than applying for any other mortgage, the lender wants to underwrite the loan to confirm your ability to repay.

But if you have reserves, multiple exit strategies, and the ability to pencil out deals, you will be able to take advantage of these loans easily. 

It's also about your ability to access the Sponsor's financial and managerial documents on the go so you can control and check what is happening regularly.

One item I'd like to see them add is the ability to track mileage.  

I have time and the ability to fix up properties so not looking to buy something that is turnkey.

Ability to check with referrals - if possible, I like talking to any current hosts or owners they work with. 3.

In Essence trade something of value for their time, knowledge and ability to teach you or walk you through a flip/rental/rehab.Best of luck

This helps you assess the buyer's creditworthiness and ability to make timely payments.

I agree with the pros and cons above - one thing I don't see listed yet is how the property type last purchased affects your ability to buy.

I would just suggest you make sure you fully understand that process before you dive into it - because you can lose a lot of money fast if you don’t know all the ins and outs.Likewise, rehabbing isn’t always straight forward… like who will do the work, permits, contractors, unknown damage you may not have accounted for - especially in  a foreclosure where there usually isn’t the ability to inspect the property.We’ve done several flips we won at auction, and lost plenty of them in the bidding.