Is an expert in that area...PM me if you want his direct contact info.

That should keep both of you happy and eliminate the feel of competition between you both.

Hi Alex,It could depend on your experience - if you have a lot of experience in heavy rehab/construction you will (1) be qualified for the loan as construction loans require substantial experience and (2) feel more comfortable taking on the loan.

This isn't the quickest and easiest way to go from a novice to an expert, but it is how many great real estate investors started.

I feel this target can be achieved given recent cap rates sold in the area, and hundreds of thousands of dollars worth of renovations combined done by me the landlord (1 unit+exterior), and my amazing tenants who did gut renovations of their units.The general rule of thumb is to use 3 lenders for cash out refinance right?

Increasing income could entail anything from changing jobs for better pay, becoming more proficient or expert and valuable in whatever you do to earn a living, to changing careers and or acquiring more skills and knowledge through education.  

For loaning money, you'll learn something about the friend and hopefully feel good being able to help someone out. 

I do love research and feel it’s important to share the data used when giving an opinion. 

Feel free to let me know if I can answer any other questions.

Feel free to reach out!