Example 2:On my most recent rehab- I made the seller two offers: one at 21k and the other purchase at 25k if he was willing to hold mortgage and wait 6-9 months to get paid.

Currently I am waiting on my first house to close.

I would be more than willing to help minimize your learning curve if you like, so you don't keep your friend waiting too long!  

As @John Casmon mentioned, make sure you structure the partnership correctly and that both of you are very clear about how everything will work.  

You mentioned meet ups.

It just makes sense to me what Curt Davis mentioned.

Mention that you come across several deals and ask if they want info on the next one.

I'd be interested to read the cases you mentioned, Brandon (I'm a geek like that) -- and whether it pertains to primary residence as well as investment holdings. 

I will be in Long Beach this weekend for a conference so I can't make the one you just mentioned.

Hi @Ramsey BlankenshipSounds like you have been investing a lot of time and money in this property.from my experience you don't need to wait until the property is fully occupied and you can pull cash out after 6 months. it is really up to the bank you are going to do this refinance.i have had mortgage brokers telling me i need to wait 12 months just did a refi cash out after 8 months.. so its really up to whom you're dealing with..also about the appraisal.it is true that the market price for commercial appraisal is $2500-$3000but i after some research i have found someone locally that did that for $900..the appraiser will ask for current leases what have happen in the past doesn't matter because you fixed the property and have new tenants. you can also ask a local broker to do a BPO .. this will cost you about $150 and can give you a rough estimate of how much your property worth..hope i helped good luck!