As you probably read through the comments on this thread, there are many moving pieces, costs, and folks involved in this transaction. 

@Geoff Engel If you don't want to be a landlord but still want to be involved with investing you could be a private money lender for flips or in partnerships and bring the money to the deal.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Unlike refinancing, which involves taking out a new loan, recasting keeps your existing loan terms—including your interest rate and loan duration—intact.

I was involved in two small infill developments in Michigan (about 15 houses in total) so two very small parcels. 

Cash out refi only if the rental income significantly exceeds the monthly payment and you want liquidity to invest elsewhere.2.You can maybe do a HELOC if you want a smaller loan that doesn’t involve refinancing the entire house.3.

I’ve been involved in real estate investing for over 30 years, so if you ever have any questions or need guidance, feel free to reach out.

What methods do other private money lenders use to pass along servicing fees to the investors involved?

The requirement to do this generally involves an experienced GC signing on the borrowing entity as a 20+% owner thus making them a signatory on the loan and responsible for the debt which in most cases is not very easy to find.

I am starting to get involved with real estate investing, but I am only a college student, so I do not have the income to place a 20% down payment for most properties.