I havent worked with him personally but have received a good referral for him.

And you can't legally dictate how much they carry for personal belongings. 

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.

I personally think this is the direction booking sites need to go.

I personally use Bnbcalc: https://bnbcalc.com/?

I don't have a solution but I think a real estate attorney or a title attorney would be a good person to talk to.

What made you think this person had no experience whatsoever and didn't own their own home? 

Referrals from local investors on BiggerPockets can be a great resource. https://www.biggerpockets.com/business/finder/agents@Mark Ainley sounds like a great person to link up with!

Advanced QuickBooks ProAdvisor was introduced in 2007, to get certified the requirement was: one had to be certified for 3 years in a row and had to attend 2 day in person and online courses.

Since the LTV on the hard money loan is high , I would personally purchase it using a bank statement loan at 85% LTV (15 percent down) and, as you mentioned, just use your cash for the rehab.