Qualification and completion time are usually not flexible or investor friendly.If you had a heloc or other funds to purchase/rehab then the refi would be your only loan costs.

was it in cash or other fund source?

I have found a realtor that I like and who understands what I am doing however he just informed me that in order for the letter of intent to be taken seriously, I also need to include proof of funding.

In a lot of ways I believe the article is a slightly veiled attempt at using trust funds to protect assets.

Should I invest my limited funds into a 'skip trace'?

Obtain all funding from a local HML (Hard Money Lender)B.

3) in terms of risk/reward, how much do you think I could get for the NNN lease income on such a property - would my example of increasing the on-site manager's income from $60K to $110K be sufficient reward for the additional risk they take on with regard to vacancies and maintenance expenses?

Invest in a Real Estate fund, if you must..

In the short time we have be in business, we have generated more opportunity for investment than we have investment funds.

But the right to a one-time rollover from IRA to HSA (with limitations) is very interesting as a way to get some funds started.