1) You borrow money at 3% to make 20% Yield or more.2) The debt pays for itself.

If not, the denial is premature - unless it's based on your borrowing ability and not on the property.If the appraisal is done and it comes in at $300,000, your offer of $345,000 may mean you are over-paying by $45,000. 

I have never used hard money before, though I know it costs more than $3500 to borrow $200K for 6 months. 

Just be aware of the fact that you are investing in real estate with borrowed money, not your cash.

The main question is...how did you structure it so that it made sense for both the borrower and the lender?

Would we still title it in both our names, or just the person who's borrowing? 

If loans are going concurrently then both lenders will require a  Letter of Explanation for Credit Inquires for the purpose of determining if your credit inquiries will result in you borrowing money.

Your income will determine how much you can borrow and how much you can save.Unless you are doing something like flips (high risk, and potentially high reward-note potentially as it can go horribly wrong), you aren't going to accumulate a lot of wealth quickly with real estate. 

@Taylor Campbell Normally when someone borrows money to buy real estate, there is a mortgage (in some states this is called a deed of trust but essentially the same  thing) A mortgage is the document that makes the house security for the loan.

Yes, he could be in the mortgage application as a co-borrower, the only issue I would see is that he does not live in USA nor has a legal status.