I could hire a realtor at no cost to locate properties, and hire a project manager/GC to manage rehabs for me at far less total cost than 50% of the enterprise (unless the enterprise itself is pretty shaky and then giving away equity is like giving ice cubes to a resident of the North Pole). 

Window frames and sashing are neglected by most North American - Hollow aluminium or vinyl framing offers little insulation value ... their response to temperature is also a factor in windows warping and the inert gases between the glazing being set free.

Another alternative that has not been spoken about is a ROFR and a leaseI wrote an article a while ago about "Why a ROFR is better than option for an owner" (right of first refusal)@Dwayne George You should also read the statute in North Carolina about any lease purchase or lease with option as they are very strict in NC with owners.A note and a mortgage if free and clear should be done with an attorney.Don't do seller financing without a large down payment and really checking on their credit rating and  their ability to pay (net income in vs expenses out)

I currently have 1 property that's a 3-unit in North Buffalo and looking to aggressively expand.  

Texas, Oregon, North Carolina) so maybe we can build a little referral network.

I agree that Section 8 is a great way to deal with North City.

Credit card companies are FICO's #1 clients), that can qualify now that could not previously qualify.There will be times where the trended data is a deal-breaker for Fannie, and for some reason they can't go Freddie, but these will be rare.I sincerely doubt it will ever impact a deal where our FICOs are north of 700.Interest rate pricing differences between Freddie and Fannie are very trivial (or people would notice reeeeeallly quickly when I did my "switch it to Freddie" solution, right?).

Welcome to North Carolina Barbara.  

@Nick Weston my meetup is in Oak Park, and Brie's meetup is on the north side (7600 Higgins Road).

I'm in hugo so about 30 min north of St.