The first being - don't bring your friends or family into the mix :)Since it sounds like you're pretty solidified in your friend moving in, and it could be a good first roomie, so just to get your feet wet... i'll double down on Laura's advice - do a lease, for the legalities, but i also highly recommend some sort of written (we call it a) Room Mate Agreement.

I probably wouldn't trust many of them and I'm still double checking what those who trust tell me.b.

Credit card debt can be a double edge sword because after the zero interest teaser rate runs out, you really have problems.

A finished product in A to B areas for distressed pricing is almost non-existent these days so you have to create the value you want in a different way.Rather than owning junk properties people might want to take that cash and place with a sponsor on higher end deals with equity gains on the back end that in 2 to 3 years time might double their money and have some cash flow before the sale.Owning a small slice of something high quality is better than owning 100% of a risky junk property and area because someone can't buy 100% of a property in a quality area because of price.  

I only have one deal under my belt so far which was a double-wide house flip.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Their main sales pitch is that they will teach you how to make more money by charging your investors double the industry average acquisition fee.  

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

Have you gotten out of the original hard money loan or still paying the double digit interest cost?

that was not a method that Armando taught in the seminars I attended these were strickly how to find BRRR props and rehab them and then resell or refi and keep.. the Markets we worked were Vegas and Orlando and Frankly those investors who actually bought property doubled their money or more with the deals i funded for them and they bought on their own it was 2011 to 2013 which as we know was a prime buying time and had to hand it to Armando he picked two of the best Markets..