A good buddy of mine and former roommate from back in college has asked if he  and his GF of three years can rent out the room. 

It'll still be called a refinance.Talking this out with one of my buddies, we just kind of figured out the solution -- do it within six months, use the delayed financing exception.

Would it be a better move to ask for a $60k line of credit from a bank or use my buddy to finance it all and promise him an 8-10% return on his investment?

@Randy ShoemakerHave a buddy who rented out an out of state owner to students 3 family with 10 beds she takes $100 a month off the top for each bed.

@Terrell SpenceHave a buddy who walks a targeted neighborhood door knocking on doors speaking to residents on behalf of the local politician.

@Joel Owens Hey buddy, thanks for the feedback.

The only auctions I believe to be held locally are public and the competition is stiff buddy.

@Kevin TreeWelcome check out the freeBigger Pockets Real Estate Guidehttp://www.biggerpockets.com/real-estate-investingVisit 3 different local REIA clubs great place to gather people, info and resources.Remember you don't have to own a property to control and profit from it.Student housing you can line up people to rent bedrooms for an owner and collect off the top a buddy did this 10 beds 100 a month for each she makes $1,000 a month on a property she doesn't own or manage.Good luckPaul

Spoke to three other GC buddies of mine and their typical, is 30%.

@Moises Rosario - right there with you buddy.