The structure will depend on the down payment, quality of borrower, terms of note, your cash out of the note sale needs, and other factors. 

But wanted to say that I highly recommend checking out REIA for Oh and/or Cincinnati and Dayton.

I think there is even a contingency in place for those whom submit deals that DO NOT get accepted for 3 months in a row.

With 30 years of residential construction experience and having built several homes in the past few years, I bring a strong foundation in project execution and quality craftsmanship.Right now, I’m seeking lenders to help me unlock home equity for property acquisitions and to expand my portfolio.

I also like contractors that have packets that allow you to pick out the stuff that you want to use for that project, which reduces the quality control process..

(Assuming quality of service doesn’t decrease.)No matter how you look at it, that is a ton of money.

We have many efficincies under management with a ~10% vacancy rate with prices ranging from 485-625 depending on location property quality and amenities.

Focus on undervalued properties, prioritize high-ROI renovations, and refinance to pull equity for future deals while maintaining 20-25% equity.

I told a lot of people about this and I'm sure it got back to him as people were made aware of his character quality.  

I encourage your friend to forward the unredacted prom note to the SEC via this link https://www.sec.gov/tcr Click on Submit a Tip.