@Wayne Brooks  with my commercial banks rule of thumb is anyone with 20% or greater needs to be underwritten and qualified and any PG's that the bank may require is signed by anyone with 20% or more ownership interest.I am not an expert of public financing guidelines like this.. good mortgage broker should be able to figure it out..

For instance in certain DC neighborhoods, most flips are bought off the MLS...but if you go over just east to PG County you will find a mix of MLS flips and flips being purchased from wholesalers.

Areas such as southern PG County offer a high price/rent ratio but lower appreciation and higher risk.

PG county is currently taking 8-12 months to ratify sales after the auction and the buyer is responsible for interest, taxes, water bills, ect. from the date of the Sale.

Not sure if I would try other counties outside of PG as I want to learn and be able to recover from any mistakes and other counties seem much hugher priced- i think somewhere below 100-200k for turn key or near turn key. 

NOT a Loan to the LLC  but true capital.. if they own less than 20% of the LLC usually they don't have to PG. you CAN have uneven distributions in an LLC so no matter what % they own they still have a capital account to cover their cash.. the capital accounts would look like this1. your friend  100K2. you 100 dollars..property is sold it makes 200k  first 100k goes to your friend.. next 100 dollars goes to you.. the 99,900 can be split any way you guys agree to in the operating agreement.. this is the luxery of the LLC... you can establish a pref . 

I'm also a new investor on the PG / DC area.

I look at (and end up with some) properties all the time that are essentially failed flips, where the flipper ran out of money, energy, or missed their profit slot. 

(Example: duplexes for sale in PG for almost 1/2 a million!!) 

I know I was a HML as big as these boys ... you can forgetta bought it. the cost of prosecuting a PG is way too much to be relevant in one off HMLs. it really depends what state they are lending in..