I'm just starting out and trying to build my "team".

A mentor or partner can help with the experience level of investing.Investors build a team such as agents, managers, contractors, financial bankers, and such to use the education, skills and resources of other professionals.Real estate investment is a process and there are many options.

If I was U/C for $100,000 and when the option tripped I was at a adjusted rent of $550, that is 10% over the baseline so my new purchase price is $550,000.I only buy at VERY favorable CAP rates on the front end, like 20 CAPS or lease parks with huge upside in pad rent, expenses that can be passed on etc...

Do yourself a favor and do a search here on cash flows and formula's used to find out if it is a good deal or not.

Even in the case of these teaser rate loans, I'm not in favor of a mandated adjustment of the loan terms - UNLESS THERE WAS FRAUD.

As I understand it, he basically applies for loans on my behalf and presents my situation favorably to the lenders.That seems like it would be very helpful, although paying him $10-20k for such a task seems very generous.

I'm sure you have dozens of FSBO signs to call in a day, but do yourself a favor and ask about the house first, before, trying to work your creative financing magic.

Why would a lender look more favorable toward a refinance vs a simply cash out?

Oh the joy of a wonderful team!

You might like to check with his company about finding a good rehab team...