But presuming you are talking about doing the above, this is a high risk strategy.

I think you can go as high as 15% but it's cutting into your margins and depends if you are a GC yourself or not. 150k is close to a million or more.

Goes back to that original thesis in a thread long time ago-- quality over quantity.

I would also highly recommend you set some parameters when thinking about working with non-accredited investors or if you are one and want to invest on a large deal. 

People with high risk tolerance will have a far different answer than someone who is risk averse. 

That’s one of the highest growth forecasts in the country while still maintaining strong rent-to-price ratios.Memphis also has a resilient economy, driven by logistics (FedEx), healthcare, and a high percentage of renters.

This influx of high-paying jobs (averaging $60 per hour) is expected to draw a significant number of professionals to the area, boosting demand for housing and various services.

If you can come in and operate effectively I think you'll find success rather quickly due to that.BTW - for a property management platform I would highly recommend Buildium.

My known options are hard money or private lending and then maybe doing a cash out refi, but rates would be high on both ends and will really cut into my cash flow. 

You avoid the tax hit, and still get the use of 75% of the equity if you do a cash out refi - (but high interest rates sort of play against that to some degree presently… but you could alway refi again down the line if rates dropped.