Out of curiosity why are you disqualifying @Nicholas Aiola because he's virtual.

Out of curiosity, what do you see as the conflict? 

That capital partner will lend the money on the project, stay in 1st position and receive monthly or accrued payments until the loan is paid off.

The benefit is, when you want to buy a property cash, you don't have to contact private or HML and just use the LOC while only accruing interest when it is in use.For example, buy 5 houses with purchase and rehab budget of 100k per house.

Out of curiosity, what did you tell LightStream you were using the money for?

I ask out of curiosity because a mentor told me a story I want to share :)You should get into a single apartment complex deal first, or commercial.

I started learning alot over the last month or so, and just for my own curiosity tried to get pre-qualified.

I've accrued quite a bit of debt bringing this property up.

My curiosity is peaked now.Does the city code require a bathtub overflow drain? 

In addition to the lessons you have already learned, a couple of mine:1) Natural curiosity - especially about "boring" things - can help you learn the vital information to move you forward2) If you don't know, ask someone, and/or do your own research.