Most common mistakes and what to avoid.   

I have a number of friends/family/coworkers offering to invest in our business, so I am leaning strongly toward using their money for transactional funding which does not appear to be very common.  

I am not certain for personal mortgages, but I believe 1 year is the most common and have heard 6 months as well.

Is this common?

Unlike passive rental income, the income from an active trade or business is subject to self employment tax (a nasty 15% tax commonly referred to a "social security and medicare" by working folks).

You'd do the work, gain experience and avoid some common pitfalls.

First offer for foreclosed properties are through the Sheriffs auctions that are held every Tuesday at the county common pleas court.

Is this a common practice?

There rates and points are reasonable and they're what I would call a common sense lender I believe with new clients you're looking at about 12% + 2 - 3 points.

Property A could be acquired with a co-investor through a tenant-in-common ownership structure.