@Greg Larson- partnering can be a  OK idea  but  it ca also be tricky ....if you do this -  seek out a  real estate  attorney to help  draft up an agreeemnt that  covers all bases .....also  on a FHA loan - a non owner occupied  co borrower /partner is not  usable 

Since I'm the borrower, I pay for the appraisal.

If it’s Maryland it must be recorded (if not check the crazy law where the borrower can request all their money back and walk from the deal- even five years later).Having owned 100’s of land contracts - they are often used in the wrong instanceIn Maryland, I would never recommend somebody do a Land Contract.

Would you borrow less?

I remember hearing stories from my finance professors about how when interest rates were high in 70s the banks would offer mortgage borrowers a chance to payoff their loan at a discount to the principal balance.   

I need confidence builder to take action, my first time doing borrowing like this..

Many of the borrowers had interest-only loans, which are a type of adjustable-rate mortgage.

I don't know if they service CO, but from another broker I can vouch for, she told me they closed on a borrower who was purchasing for O/O and he was the owner of a grow op. 

The bank he was borrowing from was bought out and the new bank didn't like the fact that this kid had millions of dollars in loans with them. 

It is very important to me for the borrower to have what?