I took out a loan with one of my friends, wrote up a loan agreement contract that we both signed and paid him the interest on a property early last year. 

Its doubtful that the municipalities involved would sign off on a condo conversion or subdivision, as their aren't many rentals in the area.

Avoid PMI and then go to a local credit union and get a heloc after closing to gift the money back.Have this as a tool in your tool belt but pursue use of the 3.5% FHA, knowing that you will be at a competitive disadvantage if you are competing with non FHA buyers, then you can call in the favor from your gift person.Just know that if someone gifts you down payment money, your bank will require them to sign a letter stating that it is in fact a gift that doesn’t need to be paid back.

I would advise running your rents conservatively and vet property managers properly before signing anything.

Install cameras and exterior lighting on timers, place no trespassing signs, and place items that indicate occupancy - like a BIG dog bowl near the front door, shoes, etc. 

You can also see total loan exposure, every loan ever pulled, every property ever owed, every co-signing partner from every project, permits, etc... 

Each time I wire funds down to Belize the recipient has to go to the bank and sign why they are getting the funds.  

Easy sign up for a sole proprietor.I think new flippers are consumers & don't understand a business mindset.

But if it were the real check why would the company use a hand-written font and then somehow digitally sign it with messy cursive in the same exact ink style as the typed font?

I have been only contacting those people who sign up or request info but would like to start some cold out reach.