As far a splits go, normal people just do 50-50, but if you are taking on the risk/liability I would demand a higher %.

I see many people starting out in the industry with very unrealistic expectations that drive them to take action, which is completely normal and that’s how most humans function.

@Chris Seveney is normally correct here in that "most" people making 6-7 figures are simply selling courses. 

I bought the property 82% ARV, which is against my normal logic on a value-add strategy.

I bought the property 82% ARV, which is against my normal logic on a value-add strategy.

Without investing time into research and understanding a neighborhood, REI can be a bit of a gamble.

I can't comment on if there was discrimination or not in your case as I wasn't involved, but the above requirements would be in place if Jeff Bezos called me for a loan to develop a new Amazon Warehouse and was willing to personally guarantee it and pledge his personal mansion and pay triple the normal mortgage broker fee.

Normally (yeah, bunch of income limits), passive losses can't be taken onto your main return, but are carried over year over year until you have net passive income to offset.  

It depends but I align to Chris and add that I think there will be a new normal and fluctuate between 5% - 8% and can look at dips to better your rate. 

It you found THE location and McD can't go anywhere else in a cheaper market (not typical) then you could try to ground lease but that's more of a risky gamble and I'd have many exit strategies.