That's our choices in these types of circumstances... 

The most beneficial item here is that the interest rate (8% or so) was still was accruing on my original balance (while I'm borrowing my own money).  

Hi Kate,As usual, to give actual, real professional advice on your floor choice, a bit more info is needed. 

For example, let's say the property "can't" go Fannie because it isn't a complete & functional home, and let's suppose the reason for that is because the kitchen is not complete, and the reason the kitchen isn't complete is because it doesn't have an oven.Standard two choices that people think they have:Hard money, 2 points up front, 70% down, 3 points upfront, horrible rate.All cash.Third choice:With the seller's permission, throw a freaking $75 oven from craigslist in there the day before the appraiser shows up, and buy the SFH using Fannie financing at 85% LTV, no points. 

When getting a conventional mortgage for an investment property with value adds, would it be more beneficial to start with a 15 year mortgage and then refinance 6-12 months later with a 30 year?

However, since there is no specific number associated with what is "unreasonable," what choices to I have if I live in Virginia?  

Your building will also be the first choice among available rentals because yours is updated. 

How will you split the deal to make it beneficial for both parties?

The receiver has every option to ignore receipts and neither you nor they see that choice.

housing choice landlord guarantee program