For that reason, even if when hes finally "settled" I'm not sure I'm interested in having him be a part of anything I'm doing. 

Maybe in some parts of the country, NYC, LA, Denver, etc, those are reasonable prices. 

View report*This link comes directly from our calculators, based on information input by the member who posted.This duplex is in an "older" part of Arlington, and a property manager from BP thought the rental numbers were reasonable.

The reason I ask is that if you sold the units you could potential afford the initial costs if you can obtain 80% LTV (but it would be tight).Sell units: $330K value - $30K (cost to sell including agent and prep) = $300K

I'll use an example with similar numbers because I want to truly understand the reasoning here:On the high end, the interest rate would sit around 5.75%, at the cost of -.125 points (ultimately resulting in a lender credit of $164) and a P&I of $766 per month ... on the low end, the interest rate would be 5.375% at the cost of 1 point (around $1300) with P&I of $735 per month.Given that info, this is to say that if I planned on holding onto this property more than 42 months (that's $766-$735= $31 per month... then $1300/$31=41.94 months), then it would make financial sense to pay down the percentage rate up front at 1 point because beyond 42 months, I'd be saving money every month...

One last point: remember that the main underlying reasons for all this regulation --- at least on its face --- is to protect the tenants and ordinary consumers.

Lots of wholesalers come across as sleezy for a reason  Don't be one of those.  

Sounds like a great reason not to have an LLC.

So... since you aren't talking to banks and are asking about hard money, but have 2 mortgages on rental property already... is there a reason for you not to just do another cash-out refinance?

As a lay person who knows nothing about plumbing, that sounded reasonable; he did an inspection, saw he had an issue, and said he would fix whatever issue it was for X amount.