On the lease, he'll pay me $100/m over my HELOC payment and all other expenses, including the refi cost, inspections, title work, etc... 

As mentioned before, you can get away with paying for the draw money, but not using it. 

So if the LP's have enough cash they simply pay the loan off and own it free and clear.. but the size of the deals are so large raising cash to pay off debt simply is not realistic at all so if the property goes into default your junior position investors find themselves wiped out.Further more thats why a debt fund like Chris has can be a good choice for the very conservative investor..

It may seem easy to jack up rent but there is something to be said about good, on-time paying tenants.As an accountant, I always rely on the numbers.

I’m thinks just pay him his regular price for the job and throw him 5-10% finders/gc fee instead of making a 70/30 split or something like that.

Coghill they are trying to take care of several things:1) Approval to access credit reportsA video tour of my home office (required by the credit repository to show security, so access to office & computers is limited to avoid data theft)Credit checks on me and my partner (required by the credit repository to make sure you are not criminals looking to steal others' data)Copies of the deeds for every property we own (required by the credit repository to confirm you aren't just self-serving)A copy of my partner’s home lease and utility bills (required by the credit repository to prove his legal address, so they can pursue him criminally if he steals data)Business phone bills (required by the credit repository to prove an actual business)2) Approval to use banking ACH system to accept tenant payments and pay ownersBusiness phone bills (required by banking industry to prove business legitimacy)A signed letter from the bank verifying our accounts (to prove legitimate business banking accounts.

Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

The hard part will be explaining you cannot pay the overage.  

The equity is actually what you are paying for the property.In this case let's look at the numbers that count,...the current numbers.You have about $500k or more in equity, which is buying you a property that's worth about $700k (I went with the lower PV. 

It’s about staying curious and paying attention to the way Dubai is reshaping itself, both for the residents and the global community watching.