It's so easy that you really don't need anyone, but an escrow company involved in the transaction, so you would be saving lots of money. 

Instead of going through banks or credit unions, this method involves borrowing money from private individuals or organizations.A major benefit of private money lending is the flexibility it provides in terms of loan conditions, interest rates, and repayment schedules.

I am also RE agent and have already advised my clients not to buy any condos unless they are really financially and emotionally ready for the risks involved. 

If someone rips off some precious info you have a copyright on then sure go ham and get an attorney involved.

there is no rent involved here..and how it will generate 9% ?

Is that the kind of relationship you want to be involved in?

So, of course its a red flag to anyone who does not know the parties involved.

I send out a one sheet that has our current rates and terms, all the steps involved, and expectation of documents needed.

If the HELOC amount you're requesting is relatively low (often below $100,000), lenders might waive the full appraisal.Drive-By Appraisal : Instead of a full interior inspection, a drive-by appraisal involves the appraiser evaluating the exterior of the property only.Desktop Appraisal : This type of appraisal is conducted remotely using data and photos provided by the homeowner or real estate agents.Based on the little knowledge that I have about stuff like this it sounds like you need to connect with existing lenders in your network or find new lenders in your network that have programs aligned with your goals.

I'd take the leveraged position and multiple properties and diversity every time, but that's just me.