Private money is a bit cheaper (usually 4-5% less), and harder to find (requires good networking skills).Most hard money lenders have a brick and mortar location and should be fairly easy to find.

Everyone likes a little skin in the game. 

Fairly cheap, if your credit is okay.

i just think the public needs to be treated fairly, not led to believe they are getting something they are not. 

In fact, from my limited observation, procrastination seems to be fairly ubiquitous in our society. 

You can change the locks out yourself fairly easily, as long as everything fits up tight.  

You will want the tenant to have some "skin" in the game.

Example you buy it at 85% of FMV (fair market value) lets say from a deal you acquired through a wholesaler for a fee equaling about 2% of the sales price so you're in the deal for 87% of loan to value (market value).From this example you'd only need to  pay the loan down to 75% LTV to qualify for a refinance with no MI (conventional financing).Or you can go MCM conventional and still refinance with no monthly MI as well (cannot own any other property).

The one thing I gather from getting a mortgage is so that you can obtain properties fairly quickly. 

I feel that a reasonable sponsor/investor split is fair without the guaranteed return percentage.On the flip side at a certain point I can see larger investors and more seasoned lenders would have certain expectations and preferred returns may be a requirement.