I can say in Detroit the wholesaler your talking to has most likely found that deal from 2-3 other wholesalers, they literally have to payout 2 - 3 other parties to get the deal and this is what the fees are high and the deal makes no sense.

Usually the hardest part is coming up with the down payment.

In my opinion it would be cleaner to split partnership based on monetary contribution and then remunerate each active party for their work if the active work is more on one partner than the other.

I have seen a number of cases locally where a party clearly did something illegal like this whether it be a landlord tenant or someone hiring a contractor.

Yes, I am a property manager but even I use a 3rd party PM for my properties that are out of state.

So none of the parties, other than maybe the property manager, cares or is effected by your success.

All interest rates and payment plans are custom made to work for both parties therefor creating a win win scenario.As far as partnering with the banks goes.

But I just want to start the conversation so we can negotiate the terms so it's beneficial for both parties.

Seems to be there was a bad judgement on the rehab from all parties.

But not everyone is willing to turn over control to a third-party like that nor is everyone able to do the appropriate due diligence.