But if your friend is not the actual buyer and signed the mortgage docs this could be impossible.sell in 2 weeks for cash. this can happen. as stated a above payoff the loan in cash now.If your friend is in title to the property they can file BK  which can be pretty devastating to someone long term but gives them time ..

Want to leverage sweat equity for future automation (i.e flip and rent, short term business, etc.)Considering the current market, I feel like there will be opportunities arising in the next 6 months in the area.

We are looking at a property that has the typical old interior stairs that are just short of being a ladder (reminds me of Navy ship stairs). 

You'd only need to bring the difference between the balance on his loan and what you agree to purchase the property for and your share of closing costs.The term is "Subject to" which is short for Subject To Existing Liens, Deed of Trust, etc.

You need to find a good Property Management company to keep you're place rented for seasonal rentals or long term rentals.  

It was about staying in contact with someone who I had already known for years, and serving them on their timeline and on their terms.

Big problem is that fraud and unethical behavior can be very profitable short term in syndicating investments.  

Does anyone have a bank that loves new construction spec, makes it easy, and has good terms? 

Don't sell yourself short on that coverage.

Long term financing will require a minimum of 20% down on an investment property.