Quote from @Matt Meier: If I were to do this, wouldn't the lender lose out on their commission? 

@Steven CatudalIf your partner’s main role is finding deals on the MLS or manage tenants, obviously a real estate agent does this and is paid commission. 

They give the same $12k in closing costs to new buyer, $24k in realtor commissions, tack on say $4k in late fees, foreclosure costs, etc etc etc  so they “net” $360k.

Contact the Indiana Real Estate Commission.

People can smell commission breath.

Commissions have never been set.

Quote from @Allison Park: Good agents won't want to work with you.Nothing has changed with commissions.

You have used home equity lines of credit to purchase investment rentals and want to know the best way to pay down the HELOCs.Between the two properties you bought, after expenses, you have $250 a month positive cashflow to use.What I like to do is pay down some principal every month with my positive cashflow.I use my extra active income from real estate commissions helping other investors to pay down the principal even more which just frees up that credit for me to use again.I know I can refinance the HELOC debt before it changes to principal and interest as it is just interest only payments as yours are.One difference is the cashflow, I have greater positive cashflow and could make the principal and interest payment in the future with the extra cashflow I already enjoy.I always get HELOCs on my income properties as well after purchasing them to pull out as much of my downpayment as possible.

Of course our big motivation is commission but you can get commission or a referral fee or something in an off market transaction if done properly.

The commission was $32,000 and we split it 50/50 with the investor.