I assume he will use a mortgage to secure the note against the property, and if not you should encourage him to do so.

Put the money to work earning 12%.2) I would lean toward this option as it gives you some level of managment efficiency, plus income security with the multiple doors.

It was recommended to me that I collect a refundable performance guarantee fee from co-signer so she has some skin in the game.

@Quinn Jackson As a lender (purchaser of non-performing loans), I would pretty much never allow a borrower to do a wrap on one of my loans, assuming that there was the proper verbiage in the note itself.

If you are talking specifically about a  business line of credit most banks will not offer them to a real estate company unless it is secured by real estate.

We've just secured the HELOC on our primary home and are ready to start shopping. 

Too many people enter this industry without a plan...they get caught up in buzz terms like BRRRR (which is not a viable long-term strategy either, by the way)...I'd personally be interested in your approach to helping investors realize how their investments are actually performing...and direction about strategies you have seen work to generate wealth. 

If you link your AdWords account to your Analytics you can see how each competitor's traffic performs and make adjustments from there. 

He thought he was offering me great job security but from my view point he just wanted to totally rip me off and work me to death for peanuts.

If you care about financial security do not give up your job.