Had he stayed on track, I don't think he'd be dipping into hard money or secondary lenders.Although, maybe I'll qualify my earlier statement by saying something unforeseen occurred causing his friend to expend more funds than he was scheduled to.

KY § 383.585 Disclosure.(1) A landlord or any person authorized to enter into a rental agreement on his behalf shall disclose to the tenant in writing at or before the commencement of the tenancy the name and address of:     (a) The person authorized to manage the premises; and     (b) An owner of the premises or a person authorized to act for and on behalf of the owner for the purpose of service of process and receiving and receipting for notices and demands.(2) The information required to be furnished by this section shall be kept current and this section extends to and is enforceable against any successor landlord, owner, or manager.(3) A person who fails to comply with subsection (1) becomes an agent of each person who is a landlord for:     (a) Service of process and receiving and receipting for notices and demands; and     (b) Performing the obligations of the landlord under KRS 383.505 to 383.715 and under the rental agreement and expending or making available for the purpose all rent collected from the premises.

Even if you inherit a billion dollars you still have to expend some effort to manage the money, pay the income taxes create estate planning strategies, etc.  

The bank expended $18k in capital, received $54k AND has the property now. 

I'm definitely not sending those leads to someone who thinks me or any of my agents are expendable.