There is no money in that business. 

Can you purchase a property with a Hard Money loan and then refinance into a different type of loan to have a lower interest rate?

Of course, sometimes it's difficult to sell a house this way if you have alot of equity since the buyer will have to come to the closing table with that amount of money before assuming the loan.   

I fought like hell to keep the property as my brother and the lawyers wanted to sell it and put the money in the pot.

I never assume that a GP can't lose my money.

Make and keep a spreadsheet to track the money --- upgrades should be well thought out and always add value.

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So they raised money when they needed to from friends and family, referral network, etc, then got back to running deals.  

There is still money to be made in those areas.  

Did peruse a judgment so I have a piece of paper showing he owes me a few thousand dollars.It is a problem as cozy never contacted me....just dug the $$ out of my account.