Assuming we agreed upon 50/50 split on cash flow and an investor exit at refinance with me taking on 100% ownership, what kind of agreement is required to facilitate those distributions and exit?

Hey @Mary Margaret Bryant it's not a scam but the mortgage companies are basically looking for you to refinance and move your mortgage over to them. 

This would be the option I'd go when I refinance cash out.

Can refinance an existing mortgage on investment property to a shorter term “Mini Mortgage.”Merchants Bank MN See Pavel UshakovPenFed - max 3 other properties, 89% LTV Quorum Federal Credit Union 80% equity, owned by LLC is OK. 5 year interest only payments.

But I ran it through a calculator where I realized I can pay off these 15-year mortgages at nine years, and then refinance them, buy more properties, do the same thing again.David:And I was going to turn these properties over four times and grow it to $12 million, instead of a million and a half that it was worth and that feeling of compound interest working for me just had me jazzed up.

Here are the details:Buy in cost is 100k which would max out my HELOC @ 4.4% variable, with option to fix the rateApartment Details:Plan to hold for 10 yearsFirst 4 years Cash on Cash (pre-refinance): 8%Average Cash on Cash for 10 years: 12%Purchase Cap Rate: 8%Total Return on Original Investment (Cashflow + Sale): 134.46%Annual Cashflow Average: $7,500Refi cash returned after 4 years: 62K10 year IRR: 14.6%Equity Multiple: 2.34

In any “normal” market, I’d just put 0-3% down owner-occupied, pay for the reno, and call it a day.I’ll be speaking to banks/credit unions as well but what do you see as my options to refinance (or finance) after reno to pull my money out as soon as possible?

If you needed access to the equity you could refinance it or do a HELOC.

Hey y'all,I've been speaking with my lender and he can help me refinance my home with another VA loan and cash out $50k, which I told him would go towards a down payment on a new property in a year and I would rent out my old home. 

It appears I can refinance and pull out $125,000.