If I may extend my hand.

I have seen companies that give you an initial loan with 3 points but may allow you to extend the loan term with additional points paid up front.

There is no amortization to worry about with interest only as the principle balance is fixed throughout the duration of the loan (question 3).

My partner and I have stable incomes and will be able to support large interest payments through the duration of the project even without income from the subject property.Equity Partners: Although we would like to execute on every deal that we source, it is inevitable that we may run into situations where we do not have the financing available to undertake a high cost project with great potential returns.

Look up San Diego RE appreciation over various durations to convince yourself of this. 

They have extended me the ability to build several homes at a time since building this relationship with them.5 Big Things banks will look for I learned are according to the 5 C's:5 - C’s of Bank Underwriting C - Character C - CapacityC - Capital C - Conditions C - CollateralI got these from listening to a great podcast some time ago and they are a very goooood guideline!  

Between my RE and family RE  San Diego purchases we have 10 purchases and all were financed and all have significant better return than S&P for same duration as purchase duration. 

Or do you plan to build your team and systems up such that you can essentially put your flipping business on auto-pilot any time and for extended periods of time (or maybe you already have)?

Any charge orders that are submitted or any unforeseen items will extend out the competition date.

If he's planning to extend business hours as well then that could be a different story.