Be prepared if your lender changes terms with greater restrictions midstream into the deal especially after the deposit money has gone hard.
The borrowers credit score is a real factor regardless if buying entitiy is an LLC or LLP. Lenders will look right through the LLC at the managing members credit.
High leverage deals seem to be disappearing in today's tighter underwriting standards.
Deals today are evaluated on actual and historical income and not proforma projects.
We are moving towards a cycle where values are dropping and it's becoming more difficult to underwrite the overpriced deals.
Source: Sperry Van Ness/RealSite Commercial Group