However, if you can acquire using private money, renovate and then refi, you could be in a better equity situation and leave less money in the deal. 

Thanks,Harish. this would be typical of a larger commercial transaction.. what you can do is pay the appraiser and the Phase one company direct.. its usually done that way.

For example if one partner brings the 20% down payment and the other will do the labor for renovations then what would be a reasonable split be.

@Augusta Owens here's some copy & paste info you won't find in a book:)-----------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Then your best bet are probably community banks which have more flexibility (albeit worse terms) than larger banks and also worth looking into are DSCR lenders.

But, this house went under contract in 3 days for $20k over ask, with multiple competing offers, in an area where the average days on the market for newly renovated flips is 100+ days! 

And if your investor friend’s private loan helps fill in any gaps, it might be worth considering that short-term pain for long-term stability.What do you think you’d focus on first... paying off that line of credit as fast as possible or jumpstarting the renovation to boost cash flow right away? 

I would just excavate a few 2'x2'x2' (or larger if possible) spot footings, w rebar and Simpson hardware,under the house (you will want to take up the floor to make this easier to do).

Budget carefully, prioritize high-ROI renovations, and adhere to strict timelines to maximize profitability.

When wholesaling vacant residential land (city lots or larger residential parcel in rural areas) how long is the due diligence period?