The one mistake I made is of course spending too much on my unit(I blame my girlfriend :-) ) which has tied up most of my free cash...I have an opportunity for a fix and flip and was looking to see if anyone has used a good HML licensed to do business in MA. 

If let's say my strategy is not value-add and my NOI remains the same, say on year 5 until year 10 but the interest rate goes up 100 basis points during those years, my cashflow actually drops because of the higher debt service.

I am starting out as a private lender for home flips. It may take 1-2 months to find a suitable home which meets all criteria based on my deal finders feedback. In the meantime my cash is sitting in my savings account...

Your friend might know a flipper whose funds are tied up and would be willing to let you in on a deal in exchange for some portion of the investment.

I would rather put the net savings towards future investments rather than tying it up in my personal residence.

I'm ready for another investment property, but it seems my hands are tied. 

While it is plain to see the ways of old were never a good idea and ought to have been tossed out a long time ago, the other side of that is appraisals are in fact better in quality than they ever have been, despite the mortgage appraiser having their hands tied behind their back from the lenders (I mean FNMA).

That would pay off his current loan and help him walk with $300k (on mobile and I think you said he owed $300k above).He would then finance the remaining 30% at whatever terms you came up with.

Not only do I know the area really well, but I feel as though there is significant potential for growth, and that area of the Washington D.C. area is one of the few affordable areas remaining.

Should we set up a business to buy our properties under or should we leave them tied to our individual names ?