What do with 80k from a private investor

[Johnoson Crutchfield]

Hey I’ve got an investor who is willing to invest 80k in my buy and hold/flip real estate business. The interested rate is 10% paid monthly with the total amount due back in 3 years. My thought was to have cash to buy deals st 75% of ARV and then refinance them to get cash out. I would keep doing this until I had my goal of 30 units. With this methodology I should be able to keep most of this capital in play and if I get good enough deals I should be able to return the money and also have 30 units by the time 3 years passes. What are your thoughts?

[Johnoson Crutchfield]

Just thought I'd provide an update.  I've now used the 80k from the private investor to do the following:

1) Purchased two houses for 44k. 15k in renovations.  Refinanced at 92k (Rents 1425)

2) Purchase two more houses for 82k. Plan to renovate for 15k.  Plan to refinance at 120k.  (Rents 1800/month)

Taking the extra equity I am pulling and putting into a savings account to buy a property free and clear.  What do you all think?  Feedback?