I have been out of the credit/loan game for a while so I won't disagree with the authorized user thing, but the last time I paid attention, I heard they had pretty much closed that approach. 

I used rentometer.com and stayed on the conservative side to establish a reasonable rent for the property.

I would think with that kind of cash to put "Skin in the game" you should be able to get "hard money" for flips.

Many new investors start off "too hot" and end up overdeveloping their first property or spending their money too fast - either of these behaviors will preclude you from achieving even your short-term goals and may knock you out of the game.

I think the number one issue most people new to the game struggle with is how to obtain money to fund their deals.

Many new investors start off "too hot" and end up overdeveloping their first property or spending their money too fast - either of these behaviors will preclude you from achieving even your short-term goals and may knock you out of the game.

I'm interested to hear how it works out for you, the financing end of the game always seems to be where the money is made.  

I had no choice in the matter...they use replacement cost as their criteria.My properties are insured through USAA as well, and they've always sent an inspector out to establish replacement cost as well.  

I would never accept a tenant on the promise that they will "quit" smoking without considerable skin in the game.

I do have a third method being cash out refi the property that was renovated, however I am a bit hesitant on this one because I do want to wait another 2 years for a shopping center to be built to be able to get a better appraisal.I'm sure for people who have been in the game for a while, something like this has occurred before.