Eric, it is against SEC rules if you're receiving an ownership share for raising money and you are not a licensed broker-dealer (not to be mistaken with a real estate broker).

But rule number one for me is there had to be equity just like a cash purchase..

There are rules to follow!

@Heather LuuWelcome to the forums...As a rule, the final installment always needs to be paid once work is complete.

Back 60 years ago the rental industry's rules were very much different from today for my grandpa. 2 generations later,  now im learning to own property with its success in mind.

They can get you pointed in the right direction as far as business licensing, insurance, drug testing, rules and regulations, etc.

And don’t rule out 401k loans for up to 50k.

The minimum time that lenders like to see you living in a primary residence is at least 12 months (although there are exceptions to this rule on the grounds of “life altering events”). 

@Neal Daftary there are some great comments here and I would have to agree with @Gregory Schwartz the best rule of thumb is to keep it simple and tailor it to your investment strategy.

Are there specific rules around sharing website links away from BiggerPockets?