This was considered a win-win situation for both us and our goals (they are retiring and I am just getting started).I secured a cash out refinance in my name in order to pay this family member (and myself) back. 

The securities laws require any publicly-sold securities to be registered, which is an expensive process.  

Were you able to secure a long trail of historical rent rolls before purchasing?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Also, worst case scenario is if you leave secure job, and lose your $80k in BRRRR.

If you want to invest, do it after you secure your home.

Do you prefer It In cash or a cashiers check or do you prefer a different type of payment method

If you do not have a track record then you may need to figure out what you can do to help provide a little more security. 

Defrauding the government= fines and prisonFHA is securing the loan...not originating it.

So here's a rough number breakdown. purchase $1,500,000Loan Amount 1,300,000Rehab+holding+closing costs $115,000ARV 1,900,000new Loan (20 year, 6.25, 5 year)- $1,560,000Cashout portion- $260,000Cashout- FFFF (friends, family, facebook friends)= 10,000Money in deal = 45,000Rental Side of Things (by month)Current Income- 27,000/m (Proforma is 31,500 since I had to rush rent out)Expenses-  (Utilities, Taxes, 25% Vacancy/Management/CAPEX, insurance, etc)- 12,500/mDebt- 11,400/mNOI- 3100/mSomething like that at leastFor the other questions that may pop up:I self manageI doubled my portfolio in one dealI was my own GC for the projectI still have a full time job in securities tradingI worked 110 weeks for 2 months straightI am burnt outI hit a lot of roadblocks including getting sued, vandalized, robbed, and threatenedI had a lot of physical blackouts and emotional breakdownsMy outlook in general on people is definitely more negative However I am also ready to move onThis post was very much to speak on an experience and tell a story.