How to Determine Min. Investment Amount for Private Investors

[Alvin Grier]

We have a few meetings coming up over the next week with some prospective private lenders.  Thus, I'm in the midst of putting together the finishing touches on our program.

My question, is how do I go about figuring out what the minimum investment amount should be that we require our investors to make available?  

I was thinking $100,000, as that would cover the expenses required to purchase, rehab, etc., the SFR houses we're currently focusing on.

On the other hand, requiring $100,000 could prevent some from getting involved.  My rebuttal to that, though, is that I'm not interested in co-mingling funds from 3, 4, or 5 people on a single deal...  not only does it complicate things, but I think it also makes the investment a security by SEC standards, from what I understand.

I don't even want to mix 2 investors on a single deal, if I can avoid it.

Yet and still, if a deal required, say, $90k, I could give Investor A, whom invests $50k first lien position, and Investor B, that invests $40k, second position, and do it that way, right?

OK, I'll stop thinking out aloud, now.  :-) 

In summary, I guess I'm just trying to get some help on how I should be thinking as I determine the minimum amount we're going to accept from those we agree to work with.  Thanks in advance for your help.