(Not a live in flip) He also was wondering if he should refi his house, pull 75k out, pay the vehicles off and put the rest down on a new house. rent the original house out and take that money to pay the refi mortgage, the rent would cover the mortgage plus an extra 150 per month ..I’ve been telling him about refining his house and use that towards a BRRRR or some other real estate investing.

That would outline the terms of the lease - rent, security deposit, property condition at move in, lease end date, lease term and anything else that a lease should cover.

The biggest concern I have is that most individuals in my network will not be able to cover the whole $100K purchase......and I wonder about having 3-4-5 private loans and the costs/hassles associated with that.  4th lien position? 

Principal, interest, tax, insurance, maintenance repairs, capital expenses, utilities ( if there are any the tenants won't cover), vacancy.  

Yes you'll use leverage to make up the debt difference but this time your back is covered with the bed rock of the cash properties.the quicker you can get your husband comfortable with your financial position the quicker he'll be out there hustling flips with you full time.  

A little info: Asking price- $41,900Our first offer- $24,000(house needs $15,000 in repairs, all cosmetic, nothing structural) we cover closing cost, 10 day option period/ $100, title policy and survey at sellers expense.

At todays rental income of $8600/month the property itself would only be producing $1103/month and have to cover all expenses.

Insurance will not cover any of the items you mentioned.

What all does this type of insurance/coverage covers ? 

I don't have enough equity in my other properties to cover this, nor do I have enough properties (yet) to move to a portfolio loan.