I've been a lender for 33 years and I've seen the up and down cycles...repeatedly.

You have no idea how this could set him off.Do you know how to get hold of his commanding officer? 

I will hold the mortgage, but we will split all costs, form an LLC, and be joint owners of the LLC.

Investment Info:Single-family residence buy & hold investment in Salisbury.

Our numbers were PP $258,000 ($359,000 Tax assessment),  Rehab $70,000  ARV $400,000    Appraiser AS is $285,000  ARV $350,000    Appraiser cost us $1950,00 because we're in AK The loan so far is as follows......total of $317.296  with a $43,200 hold back for reno, not 70k, $13,489 in fees....8.49% interest and our down payment of $52,000Lots of hoops but I guess we have a Credit Line of $650,000 for 1 year.....I need to find out yet how it works with the next loan, if I need to jump through all the hoops again ? 

Also, what hold times are expected on those investments?

PS most states have a small boy girl carve out IE as long as you dont hold yourself out as a lender and do no more than a few a year your exempt but if your have a business card  Jay lends money and you do a a bunch a year and your obviously in the business no matter what you call yourself you have to follow the lending license requirements.

This is one of the reasons why now is a great time to buy and hold single family rental properties in growth markets (like Jacksonville.)But make sure you do your due diligence on the team before investing. 

@Caley Crossman Several of my clients have successfully used a Self-Directed Plan (RRSP, TFSA, etc.) to hold a mortgage against their own personal residential property. 

The problem with S8 buildings is they can hold an area back that would otherwise be in the "Path of Progress".