It sounds like there really is no personal risk if there is a default and doesn't affect your ability to borrow personally moving forward.

Also, you don’t get to borrow 75% “of the equity”.

Now days, if you're looking in the 300k range, unless you're a disabled Vet, that freakin crushing 3+ points in VA Funding Fee for a "multi - user" borrower, which gets stacked/ financed on top of the loan, that you also pay interest on too, is not always the best way to go.I just started following the Military Investors on BP as prior I haven't ventured out of the Florida Real Estate Q&A forum on BP. 

I personally would not co-sign or co-borrow with anyone, other than my wife, without a legal binding agreement addressing default or dissolution of the partnership.

You can try to borrow from friends and family and cut them in on deal.

Roughly how much are you looking to borrow?

Same problem if you are making owner finance loans from the 401k, and the borrower decided to sue the 401k as lender, alleging a violation of Dodd Frank or whatever. 

We have a family friend who is a real estate agent and has been assisting in the property hunt and showings, etc.

If A - then you have to check with his employer regarding the requirements for borrowing from his 401k.

Another thing that is pretty typical about banks is their 20 to 25% down payment.One other thing that I forgot to mention was that the multi-millionaire can only borrow from a Bank is 4.5% and that he plans on profiting 150 million this year.