This assumes some holdback for capex/repairs/vacancy that will be lumpy and (hopefully) not occurring every month.On a $200,000 interest-only loan at 9% you'd be paying $1,500/month.

I assume you’re simply trying to get a regular investor loan in your own name for 50% of the value to pay off the other heir?

Are you interested in creating your own fund to actively purchase and improve properties in Opportunity Zones near you, or are you looking for a more passive OZ investment? 

@Chet Freeman, I've interviewed hundreds of investors in all of the platforms, including the hard money loan platforms like Fund that Flip.

Payment is $450 cheaper ($4400 PITI v $3990 PITI).This is a house hack where the tenant is paying $2100 in Y1 with rent scheduled to increase to $2200.This HH is on a VA loan and I’d like to refi into a conventional loan eventually to reuse my benefits.

If you are getting a loan, who is signing for it? 

And if it did happen, the lender will simply fix the "botched paperwork" and proceed, A lawsuit will cost your friend $25,000 plus paying the arrears on the loan with no guarantee of success.

Your refinance loan amount isn't enough to pay off your initial financing.

I made it by, but was never able to refinance due to various circumstances and none of the mortgage companies (it switched quite a bit) allowed a loan assumption to put it solely under my name.

Despite the minimal investment, these updates improved the home's marketability, making it more attractive to potential buyers.