Partnering to purchase properties using conventional Fannie Mae Loans

[Rav Ram]

Hello BP Readers,

I have been involved in the RE field now for 2.5 years. After purchasing 10+ out of state properties with all cash in the $50-100K range, i ran out of funds. I then obtained $500K LOC (Line of Credit) against 6 of the rental properties and started doing Flips. Again, i'm running out of funds.... but doing well.

I have been thinking of somehow taking advantage of the golden 4% 30 year fixed opportunity of Fannie Mae loans by somehow teaming up with other investors who want to use their credit to get up to 10 Properties in their portfolio.... Here are my challenges, and I would love all advice, thoughts and wisdom on this topic. My goal is to get into more properties initially with cash purchases --> Rehab --> Refi/cash out...

1) Can I refi/cash out out of a property if i'm the seller and I partner with the buyer? If the buyer were to sign for the loan, I could put the down payment. I would be selling my current property to him for FMV (Fair Market Value). This would allow me to continue buying with cash and within 3 months sell and do it over and over. I'm not even sure if it's legal, but most of the types of properties i'm buying don't qualify for Fannie Mae up front and need some rehabbing.

2) How Do i find people who want to use their credit to obtain a loan and I can put part of the down payment and do all the work? I just need bodies with ability to get loans to take up to 10 properties... The returns are very good, but I just don't know how to find people!

3) what am i not seeing!!!

Thanks so much!