I can speak from a builder/developer's perspective that we don't do consulting because it isn't a high value use of our time, we either partner where people bring the land and have equity in the project or we buy them out so to speak.

Hi @Erick Duran,You can speak with local banks, or you can use the 'Network' tab --> Hard Money Lenders on BiggerPockets to get started.You are correct that some places have minimums that will be prohibitive given the above purchase price, but not all.Best,Michael

Comparatively speaking, if you were to go buy a home off the MLS with a $120,000 purchase price with 25% down payment, that would be $40,000 out of pocket (25% down = $30k + $10k in closing costs).So are you $5k better? 

That neighbor contacted his attorney, who advised him to speak with me first.

We are going to speak with a lawyer regarding a partnership agreement, a promissory note, season the money, then buy the property with both of us on the title.

I don't speak for BP but yes, you 100% should be using a service. 

Speak with current and past clients.

Tell them you would like to speak directly to the tenant to confirm the work was done with pictures.

@Adam SharpI'll ask my lender next time I speak to her, but I think this where again, using conforming loans for investment gets very "grey." 

@Kendra Elise O'BerryI can't speak to the SC market, but out in my part of California the 2% rule is really unheard of.