But I just feel like I am losing at my own investment by giving so much of the opportunity up to someone that did not do what I did to make this possible.As of right now we have agreed that after renovations are done, if I were to have put more money into it than he, then he would repay me the amount to become 50/50 partners on this property.

These are mostly 6-month interest-only loans with 2 points up paid at closing.   

What should I know about using FHA loans for out of state investing?  

A lot of investors use DSCR loans to acquire multifamily.

He has a 3.5% assumable loan in place, but it only has 20 months of term left.  

A lot of people left, they let their bank have their house that they had a loan for.I buy the bank foreclosures, furnish them from estate sales, then rent them out to the contractors.6 months of STR rent pays for the purchase price of the house. 

They were slow with their loan reinstatement letters.

How do you calculate loan constant? 

You are able to get fix and flip loans no income no doc 

I am also a licensed realtor, have worked a loan originator for hard money lender, have light general contracting experience.