If your friend was looking to use the bulk or all of his cash on a flip and it would be his 10th one, it might be comfortable for him if he's got the process down and is confident and is just going larger with the deals.  

@Richard LachanceFind a local investors group and ask for referrals - you can expect an 80/20 split of chaff from inspectors you will want to use.If your early post-war house has not received any major updating, you could be looking at any (or all) of the following:Electrical:ungrounded electrical wiring.  

Looking for someone that does either powerwashing, painting, staining, fences, or all of the above.  

It's in my opinion, that soldiers should Pay down debt and keep it at zero while investingPut at least $10,000 in savings before investing Put as much money as they can into low cost index fundsUpon ETS, sell off some or all of their index funds and buy real estate where ever they end up ETSing toWith this plan, the soldier learns to manage money in a healthy manner by keeping debt at zero, while also having a good emergency fund.  

Even if your area does not include some or all of these additional protections, all people should be treated fairly and equally – as a housing provider, that’s your responsibility!

the money would be cheaper (conventional money is always the way to go if you can)it would be way easier to get comps for the appraisalsthe property is already 3 parcels, so you save the money and hassle of working with the county/city to conjoin the lotsif you want to sell later, you can sell one or all instead of allYou could do it as a 7 unit as well (without conjoining in some instances), but you have a couple challenges; comping that property will probably be a nightmare and while you may qualify for bank financing, it will be more difficult to qualify if the rental comps are weak because the 7 unit appraisal is going to be based on the income approach.Stephanie.

Did you use private, conventional or hard money or all of the above?

sub metering electric typically involves rewiring a significant portion or all of the building which also means your walls will be like swiss cheese.

I believe most or all of his landlords are aware / have given him permission to do this.

Or all 12 pre-written checks up front.