You mentioned using an FHA loan, but that poses some real challenges in the city for a three-unit building because it's very difficult to find properties that can pass the FHA self-sufficiency test.

In your example if value is not sufficient, they will hold you each accountable and if your four partners disappear, the bank can still hold you personally responsible for the entire deficit.

In both cases, the service provider is providing legal services, but what's contributed to the partnership in terms of value is vastly different.

The gurus” selling mentorship’s and “canned” programs to a inexperienced investor oversimplify the strategy; ignore the difficulty; incorrectly claim that the education they provide is sufficient for success; lie about their own qualifications and experience and success; belittle “real” business/financial/real estate education and provide a totally unrealistic picture of lifestyle, effort, and chance of succeeding.  

It doesn't work that way for the vast majority of people.The average new car payment in america is $726, that's crazy to me. 

Nine times in 10, the truth shall set you free, and real life contains sufficient true facts to make it work. 

However, I am hoping to know if anyone may have a referral for a solid lender who offers long-term financing (25-30 Yr Ams) who allows for a full CLTV seller carry behind their first.I understand the reasons why that vast majority of lenders do not allow this - trust me, I do.

Not sufficient to build a dorm style house, but he had to add a very large ADU (the ADU looks much nicer than the primary dwelling). 

https://www.wbaltv.com/article/baltimore-city-selling-vacant...https://www.wbaltv.com/article/baltimore-city-selling-vacant...These are suckers bets in the vast majority of cases the cost to renovate exceeds the value of the property, that’s why no one wants them and the city has to sell them for $1

There are issues in the realty industry...primarily the fact that the barrier of entry is so incredibly low to get a license and the vast majority of agents don't hone their crafts.