From the lending side, I often see investors focus heavily on the rate before confirming whether the overall deal structure works.

A deal can look great on the surface, but financing can change quickly based on:

• Purchase price versus current value
• Rehab budget and ARV
• Borrower experience and liquidity
• Rental income versus taxes, insurance and HOA
• Whether the exit is a sale, refinance or long-term hold
• How quickly the borrower actually needs to close

The strongest investors usually have the financing conversation early and not after the contract is signed and the clock is already running.

For the investors here: what financing issue has caused the biggest delay or surprise in one of your deals?

Curious whether the most common answer is appraisal, documentation, leverage, credit, liquidity or something else.