About typical for a lot of deals I see today for value-add deals.  

@Brandon WongHello, I put together a spreadsheet model a while ago for calculating IRRs on rental investments, as an attempt to capture comparable returns by discounting future cash flows (in REI you also hear about cash-on-cash, which is typically at a point in time), and it sounded like you are having a related predicament.

Those loans typically require 20-25%.

I know none of this answers your question of 506(b) syndicators that I have had a good experience with, but I hope it does point out that these exemptions are typically not what is holding people back.The bigger question, and likely the one you are really getting at, how do you find the true operators, and not just the savvy marketer?  

We financed this deal using our typical approach—leveraging Partner Driven's resources and capital, allowing our partner, Rodney Lomax, to focus on property improvements without the stress of upfront financing.

If these have been great tenants with zero payment issues for over a year I typically give them a one time "get out of jail" card for a single late payment....one time only.

Typically when starting out with a low net worth this is not a problem.

One trick here in Texas is typically you can't get title insurance on a sheriffs deed for 2 years after the sale, so you have to sit on those for 2 years before you get financing. 

The inspection is a 5-10 minute walkthrough by a vendor who will take pictures of every room and identify any issues for you to address.If there are issues, you typically have a week or two to get them fixed without there being an impact to you.

These are expenses incurred before your business is active, and they typically aren’t immediately deductible in full, as they are considered part of starting the business rather than ongoing operational costs.To provide more detail, according to IRS rules (as seen in the screenshot), you can deduct the lesser of $5,000 or your total startup expenditures.