Explain how it’s similar to a short sale, and may get some cash back for their equity.4) If they again refuse ask if they have any other ideas since I have exhausted all of mine.

I've exhausted my loan options via unsecured and my bank has turned me down now.  

I’d personally prefer that route than an active partner, unless you have a proven symbiotic partner already in place. 

Her particular facility was nothing more than an old house or apartment building but it was in a great area near the ocean.

Your contract can be critical if you need to enforce it, but any contract usually is nothing more than an agreed to guide to bring the parties to an agreed settlement.

In 95% of cases, I recommend finding a single family home (SFH) in the suburbs of Baltimore (think Anne Arundel, Baltimore, Howard counties, depending on where your work is) and renting to 20-somethings.Key criteria for a successful SFH househack:Suitable zoning criteria, i.e. room rental laws (county by county)Within 1 mile of hospital, major company HQ, public university, and private university (to attract 20-somethings)At least half as many bathrooms as bedrooms (i.e. a 4 bed / 2.5 bath could work, but 4 / 1.5 could get sticky)Plenty of driveway space / street parking (1 per roommate)Plenty of kitchen space (since the kitchen is the most occupied room other than individual rooms)Basement or side entrance entry point (i.e. if you wanted to turn the basement into your living space, you could enter from a side entrance)Un-involved neighborhood community (cul-de-sacs can be the worst spots)Turn-key quality (i.e. you won't need to fix much of anything when you move in)This list is by no means exhaustive, but things to think about when you work with an agent on a SFH househack.

I had exhausted all of the options as far as I knew   I went to bank after bank.

The LTV is going to be inline with conventional mortgage.The main reason folks go to commercial portfolio is because they have exhausted their conventional mortgage options.

Thanks everybody for the responses.Sorry I have to admit I did not do an exhaustive search before posting the question.I found some material on the forum after more searching that might help others:https://www.biggerpockets.com/forums/88/topics/862...https://www.biggerpockets.com/forums/311/topics/21...I'll contribute my experiences to the forum when I get my feet wet with the first deal!

Then anyone else who wanted to live there could subtract all your profit and flipping costs and bid that much more.This is similar to when people go to an auction and complain about dealers bidding up the prices  the dealer can only stop you from getting a steal, they can’t pay more than an end user as they need to make a profit at a higher price  a flipper pays the least for any property, a landlord pays more, a STR landlord pays more, and an owner occupant pays the most, especially if they can do the work themselves