Your friends might not want or need this, but if you go to an institutional lender, this is what they'll ask for...GUARANTOR APPLICATION: Each owner of the Borrowing Entity will need to complete some sort of application on themselves personally.

I've known institutional investors who have basically purchased city blocks over a decade or two for their next "big" development project. 

The info says it's an H2 Zone and can be single and multi family or civic and institutional use.

I assume this part of the process is done with a financial institution and that there are credit metrics to meet to get this REFI done.

Wall Street has proven their model of stability in the residential RE market post-crash, and if there is another black swan event like 2008/09 there will be a ridiculous amount of competition from large institutions. 

"Real" real estate education is found in real estate agent and broker courses, both initial licensing and CE, certain colleges and universities, courses offered by legit organizations such as Appraisal Institute, CCIM, BOMA, NAR, CRE, MBA,  etc., textbooks on real estate, real estate law classes, and SOMETIMES in education offered by REIAs.

@Julian Colvard - I'm not sure how the interface works for each of these institutions.

A study published by the CCIM institute looked at 50 years of history and reverse-engineered the interest costs of 5-year fixed and floating loans over 562 starting points and found that floating rate borrowers “won” 72% of the time.

Here’s how it worked: Private money, which comes from individual investors, and hard money, from professional lending institutions, covered all the costs.

I also don't qualify for any institutional loans at this point.