@Paul Rowan If you pay for the additional E&O exposure you will create, a licensed broker will most likely sponsor you and let you collect rent as PM for clients.  

I always use a HELOC to create 100% financing purchases however I do not buy properties that do not have positive cash flow with 100% financing.

If you are flipping you can start in a couple different waysOption 1: base ARV off comps, not all multifamilies are created equal and depending on the area and particularly the condition this could lead you astrayOption 2: base ARV off cap rates which will need to be determined after rehab, and then price accordingly.

I worked to create a system where they didn't have to trust me, they could see everything for themselves.It only takes one investor to get started and then you do everything you can to make sure they have a great experience with you. 

Here is what I know so far:- Hard Money lenders are short term, 12-18months- Rates can be 12%-15% in my area because they want to create immediacy behind them getting paid back- I'm not familiar with other fee's and expenses with a lender that you mentioned- Have multiple exit-strategies if things don't work out.

.- Logo designed and color palette chosen for consistency and professional look- Facebook and Instagram biz pages put in place- I am a graphics designer and created templates for coming soon, new listing, etc online ads using chosen color scheme- Website created (no IDX due to no money :-) )- Door knocking on 100 doors and left flyers I designed.

We don't see a whole lot of this, but there are those folks that get out on the internet and read too much of the wrong stuff and then want to get overly creative....A SDIRA can be a fantastic way to create retirement wealth without having to push the envelope of the IRS rules, so why go there?

The 1% rule (and sometimes the 2% rule) was created for evaluating mobile home parks and storage facilities. 

Both properties are zoned RH and could combine to create about a 9,600 square foot lot.

If your friend wanst to create a somewhat segregated space for a long term roommate inside the residence I don't know that the HOA can really do anything about that without violating federal law...