The market is in your favor now, most likely. 

This is favorable to the sponsor but not to the investor.  

Preferably a lender licensed in NY.The national lenders don't offer the most favorable terms, and many credit unions/local banks cap the credit line at $200k.

@Dan Perlman, I’m pretty confident that you will not have a problem. “4155.1 4.D.1.c Analyzing a Borrower’s Employment RecordWhen analyzing the probability of continued employment, the lender must examine the borrower’s past employment record qualifications for the position previous training and education, and the employer’s confirmation of continued employment.The underwriter should favorably consider a borrower for a mortgage if he/she changes jobs frequently within the same line of work, but continues to advance in income or benefits.

Your daughter will learn to fight back and will learn how small claims court works, even if she loses.I am a landlord, myself, and the number of landlords that rip off tenants is sickening and that is why several judges seem to always favor tenants.

By doing this you just set a meeting for you and the owner for them to see:1. you know what youre doing when analyzing properties2. build a relationship with this person by "doing them a favor"3. gets face to face with the seller so when they ARE ready to sell, who do you think they reach out to?

I would say that those terms are perhaps a bit too favorable to your friend. 

Repeat.Work slave job with W-2 documentation for 2 years to gain favor with banks.

Up/downs and less than b's have challenges that don't go away in favorable market conditions.

By becoming more and more knowledgeable the odds of success tend to swing more into the investors favor as they pursue real estate properties to purchase.If you broke even on this deal or close to it but learned a ton than consider it for the most part a SUCCESS.