It will prevent you from flipping it to a normal buyer because they will not be able to get title insurance until the statute of limitations expires for claiming an interest in the property.

Here's where it gets odd.Jack wants me to be the sole borrower on the property, on our joint project.Jack wants me to not tell the bank about my source of rehab funds because it'll "complicate things with the bank"The bank has capped my borrowing limit at $250,000, which is above the necessary $295,000 to do the deal.As a workaround, Jack will be the sole provider of rehab funds (personal funds, cash)Jack wants me to give him one of my personal checks so he can write future offers.Is this a strategic way to expedite the rehab-lending process?

I have $3,000 saved up, so clearly my options are very limited.

We use four different companies as we limit five buildings per PM company.  

Look for 95% financing to limit your initual exposure.

Many cities do not have enough, but Anoka is limiting applications and their goal it to have more owner occupied RE in the area.  

No wayTake the tax free money during your limited window and move on to the next investment 

We both have w2 jobs but have reached our limit with debt to income ratio for conventional loans, and do not have enough equity for a HELOC.

Conventional investment propties are limited to four buildings.

Most private lenders limit to four rentals per building for commerical, but usually can make an exception if a borrower has a proven track record of rental properties.