As you grow your portfolio, I recommending finding a real estate savvy CPA/tax strategist, attorney or LLC specialist.Early on, finding a quality mentor or expert in the niche of investing you are looking to do is probably the most important person to connect with early on that could likely help you piece together or recommend all the other professionals mentioned above!

You will need an attorney and a tax professional to assist with a situation like this. 

Skip the home inspector and get professionals to inspect the areas of your concern.

Thanks for the feedback  Hi @Shannon Carter First off, both of you should probably talk to a qualified tax professional.   

The following are some essential tips:Define Your Investment GoalsSet a BudgetResearch the MarketStart SmallFinancingNetwork and Seek AdviceLocation MattersInspect the PropertyUnderstand the NumbersHave an Exit StrategyLegal ConsiderationsStay PatientA word of caution: every real estate market is different, so what works in one place might not work in else.

The decision between a residential or commercial loan depends on the nature of the deal, and I'm seeking guidance on which avenue suits my investment goals. 

I never expected you to reply with building a portfolio for your friend but as I re-read your initial post, you do seem to lean into seeking to get paid for providing services versus having an ownership stake in a portfolio.So, my mistake as I  misinterpreted where you were considering taking the discussion.    

Long term when value increases they tend to refinance every so many years or decades and pull out the money.For core diamonds the way I look at it is you hold forever unless someone has a 1031 exchange and is seeking safety and wants to pay you an amazing price for something. ( example they will pay all cash 4.5 cap rate because they are 70 years old and want ultimate safety and do not care about much yield ).

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Take the same approach you would if you were going to college and getting a professional degree.