I've realized as we've scaled the SFR business into the hundreds of homes, it would be beneficial to have other entrepreneurs/investors to connect with in a somewhat formal/recurring environment.

Then I bring my GC out to give me a formal estimate on the project if I get the deal under contract.Sounds like you might be looking for accounting software more than a rehab estimating app?

Each state has its own non-judicial foreclosure laws, if they don't require a judicial process.

Make sure you have a formal, written agreement with at least one well defined exit strategy.

Quote from @Daniel Okeefe: This depends on your skills as a Landlord, the state laws, and your judicial system.

I sold a single family home in June, transferred all gains into a 1031 intermediary, and closed on the first duplex without issue (I used half the gains from the sale as a down payment).The second duplex was never formally under contract as the seller agreed to make some costly repairs so that purchase was delayed.

Another issue is judicial versus non-judicial. 

The stringent requirements for development, and the judicious enforcement, has done a lot to kick out ne'er-do-well developers and hack and slash contractors.

We simply want to have our agreement put into a more formal format and cover some of the holes we may have missed. 

Your LO called me yesterday (the day after I formally applied) and stated that he could no longer offer any loans in that program.