As a new investor this story makes me want to be sure that I do not burn a bridge,  If I were in a situation where I needed to borrow money, I would insist that the lender is legally taken care of by means of lien. 

@Budhadipta Dan What you mention about the taxes and basis sounds mostly correct, but you should consult your CPA.In terms of financing, hard money (bridge loans), refis and HELOCs seem to be the most popular.

I've been asking myself what best practices should be for due dillegence packets that turnkey providers have.One thing I really liked about Bridge's turnkey DD packets is that they include rentometer data.I've been thinking it would make a lot of sense for turnkey providers to include neighborhoodscout reports - especially as they tend to focus in specific markets and the cost for NS should be fairly nominal for them, whereas for potential investors who are looking at 10s or 100s of properties across the country, running a NS report on each of them quickly becomes cost-prohibitive.What do you consider the best practice around DD packets for turnkey providers?

Also is the loan type recourse or non-recourse, short term bridge or long term financing and what size loan you look for?

In regards to meet ups, there are a ton in KC (MAREI, FIBI, Bridge, etc.)

If your partner cannot satisfy all the lenders requirements and you're not able to you can always find another partner to bridge the gap.My credit is not that good so how can I receive a % of the property without have to go through the mortgage process on my end?  

That seems pretty risky to me....Why not just get the financing lined up now and fund it with a hard money bridge loan

If you was to refi now the best option for you is a 12 month bridge loan which wouldn’t makes sense.

@JH Bridge a lot of good advice on planning for being a good distance from Denver.

@Soheil Zarrin, I agree completely with @JH Bridge, it is probably worth a call or stopping by the county's assessor's office after you close to ask, but don't be surprised if they don't care.