We're trying to raise a portion of the funds for a small resort (6 cabins) from private individuals and I'm running into some difficulties: The whole real estate syndication accredited vs/non-accredited investor thing (if I'm understanding it correctly) seems to be a huge hindrance to actually raising money from average (non-wealthy) people that would normally be the kinds of people I'd come into contact with.

Did the Lemus pay just a security deposit upfront or did they pay some portion of rent in addition to the security deposit?

Recently, I had the opportunity to cash out a portion of my 401(k), leaving me with $20,000 burning a hole in my pocket.

I’d have to think that, at this point, 99% of Poconos homes are failing to break even every month in STRAt this point the Poconos has basically just become a market for locals, people in NYC or Philly who want a vacation home that occasionally rents out to subsidize a tiny portion of their mortgage every month.

My advice would be to take a small portion of that $250K and use it as a down payment.

They may be thinking about the qualified vs nonqualified use of the home and either taxing the entire gain or a portion of it.

Then you need to qualify off their out of pocket portion ratio/their credit, you can also ask for past landlord references, etc.

It’s vital to find a lender that fits your financial goals and project needs.2: Expect the unexpected ✅Flipping houses is full of surprises!

Another great prep strategy is to have the building pre qualified with a local or experienced lender for potential buyers to connect with and or they could entertain a full or portion seller carry back if they want to maintain some income.

If the agreement shows "Joint and Several Liability", they all guarantors can be held accountable for the full extent of the debt, not just their portion.