Or do the notice rules only apply to entering the actual house or apartment?

Secondly, DON'T apply for such over-leverage!

Apply for at least 3 cards and stop there.

The nature of the neighborhood I'm thinking about building in probably shouldn't exceed 1500 sqft.

Although I plan to learn more and apply various investing strategies (wholesaling, foreclosure, rehabbing, etc.), I am most specifically interested in multi-family properties (duplexes, apartment communities, etc.).  

I hope it's not too late to invoke the partner aspect, it allows you to be a lot more demanding in terms of your due diligence, and it allows you to not be the bad guy if you have to turn them down ("I wish I could have helped you but my partner said no and we can't invest any of our money unless we both approve the investment").To your original question, IF you decided to make a loan like this, I would see three options:Unsecured personal loan (weakest/worst/don't do it option)Secured loan - they buy property and you are the lender secured by a mortgage on property (better)Rent-to-own - you buy property and they rent from you with an option to buy (questionable esp w/ family, may be tricky or illegal depending on how structured, etc. and see next point re: owner-occupied)However another aspect is that since this would be an owner-occupied property, there are a ton of consumer protection laws (Dodd-Frank) that apply.

So as pointed out, what works/and is recommended in one state may not apply at all in NJ.Also, if you can afford to put each property into a separate LLC that's great but I agree that even if you can it may be overkill.

I found a bunch on meetup.com; not sure if that'll apply in your area.  

Give him back his deposit if the unit is in good shape.I'd think the intent of that addendum is more related to a drug related arrest on the property, or something of that nature.

If the property requires rehab, the Realtor and/ or Mortgage Broker will suggest applying, for a 203k Loan.