Use it as many times as you can (infinitely), but never, EVER, spend it.  

We looked at 30 properties before we bought this and had bids on 5 that were rejected.House 3- MYTHICAL INFINITE RETURN PROPERTY AKA HOME RUN !

I know there are various factors at play including PMI, purchasing points, lender, and fixed vs ARM that make for seemingly infinite iterations.

rent it out and cash out refi, and then use that money for the down payment and rehab on the next one, and rent that one out too. you can build up an infinite portfolio that way :)

Don't need the top shelf level guy who charges top dollar but does mint work or the ghetto guy who charges bottom dollar but messes your place up.

You best course of action is to get very familiar with the law - perhaps print it out and read it a few times, that's what I like to do, as it's usually written very poorly and takes a few re-reads to understand - and then review any of your off-the-shelf contracts for clauses that are not legal, and re-write your agreements to reflect that. 

Similar comps sold on the last 120/.5 mile are $105-115k100% funded Private money at 8% due on backedARV: $105k (projected worst case scenario)Purchase: $27kClosing: $785Holding: $384/moSelling RE: 6%Rehab: $30k (projected worst case scenario)4 months to rehab, 3 months to sellTotal money projected: $63,195%ARV: 60%Projected profit: $35,505ROI and ROIA: Infinite I'll post pics of what I'm starting with soon.

LOL.Or take the very established HMB  he is lending others money so he or she has no cash into the deal and is making infinite returns.. but its a business your running a business. 

Depending on how many windows and if they are off the shelf, it shouldn't take more than a couple of days.

There are almost infinite structures you can use, but at a high level I would suggest at least a 8% preferred return to your partner and then at least a 75/25 split (75% to you partner and 25% to you) after that preferred return is paid.