I spend money on postcards, distressed lists and a website.

What is the standard option and earnest money in your area?  

If you are raising money in a syndication raising less than $1M can be challenging due to the setup and ongoing costs to manage and run it.

Maybe he's talking about a private money lender??

we can do it not rented but rate will be significantly higher. easier and more cost effective to rent it. unless the bridge money needs to be paid back asap or you need the funds back to buy more, then a cost analysis needs to be done. personally id get it rented at market rent or a touch below if time is a factor. 

Of course we all want to make money and care for four families.

I am seeing a lot of movement on VA assumable loans.

Given the market conditions and your hard money loan, it might be wise to first calculate your monthly holding costs, including loan payments, taxes, and maintenance.

It took them 3 months to get my money invested and paying monthly.

In my LLC I buy more sub-performing and non-performing notes with investor money, that's my version of the VARIABLE portfolio.