While sophistication of your equity partners (private money lenders) will vary between residential and commercial, the principle of raising private capital is the same.You need to develop your own system which allows a constant stream of PML even when you don't need the funds and/or don't have an active deal under contract.For example; I raise private capital by offering free educational workshops for people with self-directed IRAs.

In short, having all the conversations and commitments in strategy, setting up LLC and all the fun docs of who's doing what, and I'd suggest even getting initial funding into account for at least EM. 

I added arcade games, board games and accept pets as well.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000

Cash invested: $15,000

Sale price: $80,000

3/2 SFR with shop sold in 2021.

Hopefully your lawyer also mentioned insurance- title and hazard.A quitclaim deed transfer can hurt your title chain and title insurance. 

Why can't you contact them and ask these questions?

You might save a full percent just doing that and you have tons of money you didn’t pay in points.

@Jaycee Greene I wouldn't have the funds for the down payment. 

I use a spreadsheet I developed to determine my entry costs, carrying costs, cash flow, tax write offs, appreciation and exit costs.

I’m willing to put in the time and effort to learn and grow in this industry, but I could really use some guidance on where to start.