He owes 108k, 60k for HELOC and 48k on existing mortgage and wants to purchase another house with his wife via traditional financing. 

That said, don't traditional loans also require the home to appraise albeit on a different set of criteria.  

I went the traditional route.

I think it's hard to argue that agents aren't overcompensated.Here's why this will fail: "Trelora's model is also different in that it pushes for flat fees on both sides of the home transaction, something traditional brokers argue will trigger a destructive race to the bottom."

If your worth a few hundred million, then you might need to do that,,if not, get a several million dollar umbrella policy treat people right and keep your properties up to date.To get maximum cash flow you need to get a 30 year traditional mortgage at around 4 1/2-5% locked in for 30 years, not a commercial loan at 6-7% that the rate is only locked in for a few years.Your allowed to have 10 mortgages in your personal name, use those first, if your spouse has income and can qualify for mortgages, put 10 in his/her name,,,There are very few (but I didn't say there weren't any) reason for a person starting out shouldn't be putting properties in their personal name unless they are worth a LOT of money, as long as your dealing in single family.Take the time your spending looking at different corporate structures and spend it looking for a deal and putting in offers.andy

Pay Day rent schedule line up on the resident's pay day instead of the traditional first of the month thing.

Just like those smart, traditional financial planners teach us to do.Then again… what about all those infomercials I saw on TV?

I don't think a person who's behind in payments or who needs to sell a house fast or who wants to buy a house without a bank is thinking about "investments" in the traditional sense.

A few years ago I started working on a degree called a 'Masters of Real Estate Development for Architects' (MRED) at Woodbury University in San Diego after getting jaded in a traditional Masters of Architecture program and applying to the MRED program on a whim.

While I think that having a mentor is invaluable, I do think a 50% split on all net cashflow is really high if it is just traditional mentorship without them being very hands on.