In terms of finding a partner, I would recommend partnering with someone who has something that you don't have (understands renovations, real estate experience, has money, etc.)

This means that if the bank forecloses, and you can’t pay it off, you will lose all of your money with no recourse to anyone.One option to secure your loan is if one of the partners has a free and clear property worth significantly more than your loan.

There are many HMLs that will finance new construction, but much of it is based on your experience, credit score, and the expected sale price.

Real estate is definitely a constant learning experience, and adaptability is key.Building connections with buyers in a new market can be a real challenge, especially when trying to understand their specific needs and earning their trust.

Hi Stephan happy to connect I'll be in town soon so feel free to Dm me your phone number

There's obviously quite a bit of diligence that comes after such as who the key principles are and their credentials/track record (both balance sheet and experience), the underlying real estate and thesis behind the investment & tax prep and audit procedures but as a general rule of thumb if the investor can't get past the first part which is understanding what they are investing in, passive investing is probably not for that individual. 

No free lunch in this market!

I have experience with this business model. 

Thanks in advance—your experiences will help narrow down the best fit!

(Disclaimer: I am not a lender but speaking from general experience)An important lesson that I've learned from working with investor clients is that analyzing as many deals as possible is a fantastic way to get your muscle memory acquainted with various opportunities.