Bank rejects financing after seeing property

We have been talking to a bank for financing for a 10-plex. We are in a partnership with another couple that is very financially secure. Before the bank was given the inspection report and appraisal, the banker drove by the 10-plex. He is denying the financing because he "doesn't like the look of the place". I have been told bankers are supposed to rely upon the inspection and appraisal, not to drive by on their own. Can he deny money based on his opinion of the building?

[HomeGuru]

Yes, the banker can do that. You need to understand the bank's criteria as this is not a standard loan that would be sold to FNMA or Freddie Mac.