Before I looked at the deal, here's what I asked from him:The purchase and sale agreementRehab breakdown documentation2 HUD statements of previous dealsDeal info (Property profile, funding, security, repayment plan, etc.)Title company involved in the transactionWhat I also asked for was a term sheet from the hard money lender that was lending at first position.

And I can't really talk shop with my inner group of friends (other than the macroeconomics of CRE).Are there outlets for these types of conversations? 

It sounds like the oversupply is really affecting the market there, and with rents dropping by 8%, it might be tricky for investors to secure solid returns in the short term.

In that case, you would need liquid assets of at least $9,000 to secure a mortgage.Calculating How Much You Need to Begin Investing in Real EstateLet’s do the math to calculate how much money you would need to buy a residential rental property as an investment.

All good suggestions--if you find this becomes a bigger issue, one thing we have done in the past is offer back the security deposit in full to get people out. 

The local banker pulled a few strings and helped them secure a short-term loan while things got sorted out.

I want to invest in real estate to heavily supplement W2 to open up options and financial security. 

If he can pay all 15 months up front, that is your financial security (at least for the 15 months).

We have questions and we appreciate any insight:- Does anyone have any advice on how to structure and manage this deal and secure financing?

This would make decision making hard, on top of likely needing owners to sign mortgage guarantees, etc.Not enough involvement/too many owners, that you no longer satisfy SECs rules for involvement and it is really a security that needs registered or exempted.Some middle ground, like DSTs or these other fractional ownership, where the admin work is so intensive that fees need to be higher to make it worthwhile for the operator.Then again, I am drawn to real estate, so by nature drawn to traditional, proven structures.