Will they finance 100% of the purchase and renovation or will they want skin in the game (you putting money in).Most do not do 100% funding so beore going down more rabbit holes, make sure you have the $ aspect situated first.

I use credit cards, write checks, and pay in cash.Each situation can dictate the payment type. 

Curious to hear the good, the bad and the ugly from multiple perspectives. 

When speaking with them, demonstrate genuine interest in their situation and goals.

But it feels like if you keep cashing out equity on your properties to buy another, you end up with multiple properties but with your equity stretched really thin, like a house of cards ready to collapse. 

Is this something you have done multiple times?

Some will probably do fine with it, but the number of spectacular crashes amongst this demographic will be a multiple of the norm. 

A good securities law attorney will be able to advise you, on your specific situation.

The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.Has anyone dealt with a similar situation?

In most situations, the more profitable a property is, the higher percentage the GP is paid.