Wasn't sure how to value it because most units only have the appliances like fridge, stove, dishwasher to contend with, alongside the toilet/shower.

Now plans have changed and I am working alongside said flipper to reno the house together.

For these funds, you really need to have a lot of trust in the sponsor because you have less (or even no) ability to underwrite the assets alongside the sponsor.The second type of fund is a semi-blind pool. 

That way, people will start to see you as a leader in the space, thus deepening their trust in you and your brand.Then, once you've built up a short list of people who have capital and are interested in investing alongside you, then go out and find a deal.

I think what I need to do is find a lender who is willing to work along side of me and realize that the properties will cash flow positive after all expenses are accounted for.

@Paul Sandhu, don't you find all your grills along side the road?

Another option to consider alongside multi-family!

You will get a monthly or quarterly check depending on the company you decided to invest alongside.

If I sought to gain more expertise within a given asset category, I would consider networking to identify the top 2-3 syndicators in that space to invest (and learn alongside) an a limited partner.Rule #3: Take a long-term view that is consistent with my financial goals. 

Then I would find out who is a syndicator in that area and connect with them to invest alongside them.