Now, if the seller is in dire need of cash and you want this deal, you also might work out an arrangement for a non-refundable deposit that will be applied to closing as long as you get 7 more days.Good luck.  

At the current stage, the role of a mentor will really be to hold your feet to the fire and make sure you are actually taking action. 

There's a lot of discussion around partnerships, private lending, and hard money, but I don't see much discussion on the actual mechanics - what these arrangements look like in practice.My hope is this post can serve as a reference for those starting out, so we may get a better understanding of how these strategies are actually implemented as well as an ability to more accurately predict the profits and returns you and your lenders and partners can expect.If those with more experience would like to revise these numbers and statements, it would be most appreciated.These scenarios assume you, the flipper, are bringing none of your own capital to the deal.Typically, this would mean 1 of 2 scenarios...Private Lending - Someone you know brings 100% of project costs (purchase, rehab, acquisition costs, holding costs) to complete the deal and in return, they get a certain percentage return which comes out of your profit.Hard Money + Partnership - You get a hard money lender to cover 80-90% of purchase+rehab and a partner to cover the remaining 10-20% as well as acquisition costs (including hard money origination and points) and holding costs (including hard money interest payments).An aside about the structuring...Private Lending - A promissory note is created, and your private lender lends to you or your business. 

Guaranteed, tax-free and hassle-free 6% returns are enough for me at my stage.   

Based on the information you provided, I would use a two stage approach. 1.

The properties appear to be in great shape with maintenance records.The bank, a CU, also said they could help me to pay the 20% down by refinancing my paid off personal home so I could hold onto my cash.I'm just in the beginning stages of looking into this. 

I have since taken care of the dead tree for which the citation is for...BTW..The City of Phoenix who wrote the citation informed the resident it was not his responsibility to remove the tree, even though it is in his lease agreement AND it is an owner finance arrangement....Question 1: Do I need to go to court being that the violation has been fixed? 

I’m a newbie landlord in Cal and have already served the 3 day notice twice with my very first tenant, I’m still in the early stage of this painful eviction process.Tenant claimed heater broke down the second day after I served the 3 day last month.

They are very thorough at carrying out their due diligence at the purchase stage.3. 

Ellie - obtain the funds needed to acquire the property  from friend / relative ...pay seller the  cash ...have a private note set up between yourself and donor)   with specific  terms  for repayment ...make sure the  rate  agreed to is  a realistic  market type rate ) and also make sure that a formal lien is  filed for the loan  and also make sure you formally go into the title  .........I would suggest making a separate agreement / arrangement for the  funds  you are  borrowing for the  construction ......