However, they didn't discuss how the student was able to raise another 40K (which I'm significantly concerned about lending 40K from a hard money lender and pay APR 20%).Second Day,They told us that they were giving out a bonus session for early comers.

Depending on your estimate of the ARV and the ability to raise the rent on the 1BR, this looks like a "lendable" deal, IMO. 

That doesn't mean that you to spend loads of money, but just be self aware if you stink at design like me.Just curious - where is the property? 

If you ask nicely and promise not to share, you can usually get good financial information on the properties that are currently operating as a STR.If you're just starting out looking, you may not be aware of just how many cabins out there are poor quality builds due to the lack of codes.

My main selling point that it would be Class A multifamily and offer some of the nicest living in the area, raising their property values.

Now, if the loan is non-performing and has not been paid and there is no longer such a relationship with that customer, there could be sales to anyone willing to buy them, such as an auction, but the borrower is made aware of this as well, if notice can be given.I'm also speaking of a bank loan, not a secondary market loan that was sold and securitized as Dion covered.

Born and raised.  

I have not asked for a raise on mine I get pretty big ones out of the gate LOL.As for Fico when i had a bunch of mortgages that reported to the fico I had a hell of a time getting even above 700. 

I knew I was interested in capital raising. they had zero education about that topic.

Just to clarify, there is no limit to what you can raise as a nonprofit but, as Shonda mentioned, you can do a simplified filling if you intend to raise less than 50k a year.