This is not even close to the documents required for a properly drafted loan.

This may require a co-signer, such as yourself.

If they are pre forecloure/foreclosure, probate, or lists that require fast access to the lead to gain an advantage how new is the list and are the leads already on the prominant platforms like Propstream and Propwire?

As soon as you get below 100% (or whatever the required amount is) they're selling.

So the question becomes based on their individual and personal tax situation what is the estimated tax burden they'd save? 

Or does your financing terms require you to do something else (which is why we need to ask question #2).Maybe the original poster will respond as well but those are the 4 items I would tell you to uncover.  

Would you be better off selling and purchasing a less expensive property that would require less carry should it become vacant for some period of time?

First off, the cash-out refinance requirements have gotten tighter w/ the "seasoning" period.

I am based in Virginia and licensing requirements here seem manageable.

As I said earlier, this is strictly for investment purposes.The property does not have to be turnkey, if there is room for improvement that's of no concern as we both have the skill set to invest in whatever upgrades are required.