As a lender - 1) investors that are just starting out normally float towards high leverage/high rates lenders (lower margins and more risk); experienced investors normally go with lenders that can close fast, reliably, and with low fees.

What are other questions we should discuss in advance.any advise, any sample document.Thanks look at 10 joint venture deals before you do one. talk to others in other markets. if he isn't smart enough to negotiate capital or JV deals or structured finance I wouldn't touch him. every cost should be fully transparent with their margin. similar structures with investors in columbus we are the general and everything is negotiable. he should also be qualified talk to a bank first. we take title in a single purpose entity we are the LP less than 20% and the qualifier and the main investor puts the cash and gets the loan, I'm also licensed and normally sell to out of state investors. 

It's just normal wear and tear on any house as they are high traffic areas.

What you are seeing is pretty normal.

Normal market value fluctuations are irrelevant when enough value is added at inception (and values go up over time in growing areas). 

A normal loan won't work.  

I own 3 out of the 9 units in the building so not sure if I can get financing under conventional FNMA guidelines.With the blanket loan, what types of terms do you normally see?

How have you normally found partners? 

Lastly area of 1 mil to 2 mil homes and you bought it for 7k.. my first hunch is something is potentially really wrong with it.. normally lots in those types of areas would sell well north of 100k if your building 1 to 2 mil homes.. thats how the math generally works to back into land values.

I have 9 doors across the Midwest and they all do a minimum of 10% but usually it’s around the 15% mark after a refi, since I normally do BRRRR style deals.