We also made a deal with the second position lender to get some of his invested capital back which would've been completely lost in the foreclosure process.

What are standard terms and conditions when raising capital from investors for a real estate investment?  

I am very eager to start my real estate investing journey — I have a large amount of capital that I am looking to invest into single or multi family homes.

This type of opportunity aligns perfectly with our strategy to move fast and capitalize on quick flips.

And it keeps track of all your capitalization from year to year with each property.

I have enough capital and am investing in lower priced homes to be able to absorb any mistakes I make along the way. 

But with sub to you need to be very well capitalized in-case the loans gets called or something else happens with it and you need to retire it.

I have an opportunity to raise capital with a private individual at a flat interest-only rate as a way to reduce interest charges and eliminate origination and service fees.

The latter process would take more time (due to capital generation from other sources), cash investment and end up with much less capital appreciation over time but would also carry much less potential risk. 

Do you understand how to budget for maintenance, capital expenses, and vacancy/turnover?