I know this may be an individual decision ultimately, but what types of land did you purchase, or what regions, or what characteristics and why?  

Do people like the individual hotel like bottles and soap? 

It was obvious he valued the upfront fee more than the potential of a real partnership where we could collectively earn substantial profits (hundreds of thousands of dollars vs 10k) in a matter of weeks.

This is an amazing space to meet many very smart individuals.

It's great to run into other positive individuals in multifamily space. 

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

You should contact that individual's unit to confirm they are a member.

you'll be able to get hard money loan but they would probably want substantial down payment ? 

Since they can't do each property individually, they use comparable sales to make broad generalizations to determine percent changes.

I think this would be difficult for an individual to do.