The TL does not have any personal information about those leads, except the fact that I have been talking to them.- The TL states that those are technically the team's leads and I will owe the 20% if they convert within the year since I was given training (which I was not), lender referal (which was forced on me by the TL even though I work with my own lenders for my clients).Is the above statement true/legal/valid?

What this model does is provide funding by sharing future income, without adding debt and, except for those about income gathering to the platform, without adding repayment obligations to the property owner.

The Seller has little leverage except to bluff at you to settle.

With actual cash, you just transfer it. yes, but you can still bid with lender approval - without appraisal contingency - you send in deal (app), it gets approved by lender its functionally the same as cash (except in true lightning speed situations where there is a quick auction with little time to prep but thats generally pretty rare I'd think)Right, but that's not cash or functionally the same as cash because the lender can change the terms at the last minute, as often happens with less experienced hard money lenders.

Numbers always look good on paper but between holding costs when acquiring and renovating property, closing costs on can also add up.I am not saying it cannot be done, as I did it with about 75 loans in a very similar fashion (except I was buying NPL's and got them reperforming).

Your new tenant is like any other tenant, with two exceptions:1. 

It’s a move that worked out exceptionally well, especially in a growing market like Phoenix.Here’s how you could approach it:Unlocking Equity:A HELOC is great for flexibility, while a cash-out refinance might be better if you’re aiming to make multiple acquisitions quickly.

Everything went really well except for the fact that they sold the loan to a hedge fund before closing and the hedge fund's fees were added to the loanguys fees and it all added up quite a bit so I changed my mind at the closing table and used a private lender that is friends with the closing attorney. 

Who cares about lifetime interest costs, except to the extent you can easily lower them (refinance to a lower interest rate) to increase your cashflow.

EXCEPT!...