If you were able to get a mortgage initially, then it shouldn't be a problem. 

How to make your 1st million dollarI have learned so much from other successful investors and wanted to share the some of the things that have worked for me on my initial Goal of having a Million-dollar net worth to increasing the net worth annually by a million dollars.IntroInitially started with investing into single family real estate 18 years ago, using a BRRR strategy.

From what I have gathered you are stuck with a minimum of 6-12 months of seasoning if you would like the refi to be based on a new appraisal price and not the initial purchase price.So, my issue is if I fix a property in 3 months and its now rented out, what do I do?

It will cost you $180 for the initial filing and $45/year for their services + Delaware annual fees which can be found here https://corp.delaware.gov/fee/.

I'm trying to initiate a 1031 with a qualified intermediary, and have been quoted up to $3k for fees.

If you divide that by the initial investment of $120k, that comes out to a 15% return?

I'm curious to learn how folks have structured financing when leveraging both hard money and private (family/friend) money.For example, if you have hard money that covers 80% purchase and 100% rehab, then a private (family/friend) money that covers the remaining 20% purchase as well as holding costs and initial rehab costs, what kind of rates and payment terms did you settle on for your private (family/friend) lender? 

Initial investments will be flips, but the group is also interested in getting into rentals in the future.

Look at how long units stay vacant in the market and build that into your calculations.You may also have an initial period after you close where you're removing non paying tenants, so consider that as well.

He has signed the lease and has initiated ACH payment for first month rent and security deposit.