I should preface with, we are not familiar with the western NC area, but have heard is it nice and seems somewhat affordable. 

Does the 10% pref with a 50/50 profit share seem equitable given the project's scope and profit potential? 

I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics.

I am told to run the title by the lawyer to check for leans but it seems counterintuitive.

Therefore, it won't be easy to pitch deals to private investors regardless of how lucrative the deal may seem. 

It seems like what your saying is you would kinda wholesale the sub-to and transfer the loan as a wrap and the deed of trust is included to continue to protect the lender?

What I really like is that he is authentic and seems to truly care about helping the people he works with.

Rockaway Beach, Ore.Cap rate: 5.23%Average gross rental revenue: $37,030Median sale price: $340,000These seem like low CAP rates, presumedly because the list maker is factoring their 25-35% management fee and who knows the average down payment or interest rate..From Brookings Oregon to Rockaway Beach and beyond there are on market listings with stronger projected returns. 

The condo board seems desperate to get him out,  can that be used to my advantage vis a vis the looming HOA lien on the property? 

It seems too good to be true and I am currently trying to research the company.