We have considered doing a live-in and flip sort of a deal.

Don't listen to Bill Gulley - he doesn't know anything :)It's always a blend of private and institutional money of some sort, and timing.  

I have sort of the opposite weird situation.

Hey Everyone,My sister met with the owner of the SD house today and he was very interested in the prospect of selling it without dealing with putting it on the market but...there's always a but...he said he can't even think about any of that until he gets his sisters belongings and financials sorted through.

Super strong borrowers NOw a days will find better rates etc.Now its customary for Banks ( commercial banks to ask for PG's)  most do .So while I understand it completely in function I am not all that enamored with them as some sort of recovery mechanism to a loan gone bad.

Its a great way to learn about the ins and outs of owning a home and learning how to deal with all sorts of situations on your own.

To reduce a little bit of my risk of getting bad tenants in the form of non payment, I would require two options:  A.) two month's rent ($700) up front or  B.) one month's rent ($350) with parent co-sign the Renting agreementThis particular apartment complex is highly sort after and the $350 per month rate is the lowest rate over the past 3 years.

@Jonathan Key If you are looking to get your own RE Licence, you will need to become very adept at dealing with all sorts, without letting your personal feelings interfere with what you are trying to achieve.

It's just too far for core Bay Area jobs, overflow, and has all sorts of other issues with the city/Bankruptcy, taxes, lack of services and bad schools, etc.. 

STEM (science, technology, engineering, math), medical, and legal are about the extent of useful degrees.I say that because if you're spending that sort of money (and six years of your lives) you should expect the resulting job prospects will enable you to pay back these loans.