Been to two restaurants and they looked good but didn’t have the flavor.  

(Subtle self-promotion there.)

There are probably 5-6 basic strategies, with many flavors of each one. 

I think as investors we can get caught up in the "well it worked for them, so it should work for me" without taking into consideration that the regional 'flavor' and how that would impact my deal.But it does help to work with a lender that has the flexibility and familiarity to lend to both and manage our own expectations when it comes to rate and leverage.

Subtle word changes that affect the outcome. 

Local flavor.

It's a subtle but telling sign that the market is adjusting to a disconnect between seller expectations and buyer realities. 

A family with kids, a dog, and a once-perfect lawn.At first, it was subtle: less upkeep, mail piling up, fewer lights on at night.

There can be subtle changes, but you shouldn't alter what you consider to be sound underwriting principals because of market conditions.

However, there could be subtle differences how they consider the application, such factors as DTI issues.At the bottom of the market in 1993, I submitted 2 loans I obtained in the mid 80's. totaling $300K, at interest rates exceeding 13%.