A private investor then has to carry a note for a guy that the banks won't touch and hope he can refinance his way out at some later point in time.

There is no way I can intimately know every market outside of my own.

So he took a chance on the financing coming through in time and was able to do it.

I know that banks are busy, but it is reckless and unscrupulous to hold someone’s appraisal hostage if they screw up and don’t issue the loan in time for the lock period.Is there really any remedy for this problem other than to do due diligence on the lender?

I think the issue with Realtors is they are commission driven and will focus on providing a service that will return the highest return or commission.As RE investors, we will low ball the asking price and the Realtor will have to spend time when they know the offer will be rejected.Additionally, if we go after REO property and short sales, there is more work required of the Realtor and the return and commission is low and they feel, not worth their time.So the bottom line is get your licenses and be your own Realtor or just work with the Realtor and everything will workout in time.

In addition to what you're thinking, I will share a few that I'm most intimately familiar with.

We hear all of the time about how much someone made on a flip or cash flow on their properties but never factor in time into the equation.

Regarding ethics... its mostly contractors that screw people in times of crisis; which will directly affect you as a potential investor.    

After learning tons of great info on BP, If you could go back in time, knowing what you know now and give some advice or pep talk to your younger 14-18 yr old self, what would you say to help you have gotten a better start in REI?

I did try a convention but found it less networking friendly than more intimate gatherings where people are less guarded.