In these states I assume that just like a standard foreclosure, all funds acquired during the sale that exceed the outstanding contract balance and any liens on the house go to the contract buyer (vendee?)

@Matt @Matt Ruttenberg Did you get your project started or find a funding source?

Joe can answer this other that funding a few land flippers in Texas the last few years I have not done any deals on improved properties..

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If it were me I would do a HELOC to be able to tap into that equity, and use that to fund other investments.

So depending on your experience, if you are bringing a piece of land and some plans, I the outside investor would want likely between 80-90% of the equity if I am providing all the funds for closing, the experience, and the reserves, just to be honest on something like this. 

My partner funded the entire purchase price, and we are about to refinance at the market value, allowing him to get all his cash back with a profit and allowing me to buy the house with no money down.

I have seen fractional shares of some real estate funds on a specific propery - but personally I would want to invest in every property in the fund not a specific one. 

Being an engineer, I am wondering if there are areas[deal analysis,  underwriting,  acquisition, financing, or investment/funding)  where some automation (intelligent insight, reasoning, and decision support) can help you grow the business. 

Any assistance will help, as we really do not have funds.