Creative Finance Help?!?

[Kenyon Berry]

Hi everyone, I’ve got an extremely motivated seller. The problem is the family wants more money than the property is worth without the necessary renovation to support the cost. Im working on convincing the seller to transfer title and I assume all maintenance and renovation for a 6 month period to flip the property and get the seller what he is wanting once the property is sold or we do a cash out refi (if held). I first have a few questions for anyone that has successfully completed creative seller financing deals

1. Once the property is in my name free and clear are there instances where banks will view the property as an income producing asset and lend the renovation cost just using the property as collateral rather than require down payment for the loan?

2. What are typical partnership structures if I don’t go the bank route for deals like this? If I bring the property, will other investors typically be ok with fronting the entire renovation cost (so long as the numbers make sense) and split profits 50/50 or does the partner who fronted renovation usually receive more than a 50 split?

Thanks