Experienced developers, could you tell me how the process/financing works?

Let's just say even seasoned syndicators are having a lot of trouble raising capital these days.Personally, I would focus on growing as a pilot and getting into mainline (if you aren't already there) and into the captain chair as quickly as possible. 

Back when I was in finance, we had a broker who was charging a family 2% for management fees on their cash that was only making 0.3% at the time.

One possibility is building a duplex in Peoria, while it's not the best rental market, getting a duplex at a possibly much cheaper price than market value is extremely appealing.

How did you finance this deal?

It is going to be near impossible to cash flow on a property with 100% financing, especially if that partners rates are above conventional rates.

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.

He wanted it all sold as a single package with no owner financing.  

I understand the crime concerns, but why do you think traditional financing is risky?

Or a seller finance calculator showing the monthly payment based on negotiated price, interest rate, down payment, etc.