. :)  these are not credit score loans ( I mean I have a credit score) but thats just a formality its all about capital and relationships with your bankers and deposit relationships thats key as well.Yes your relationships with sub contractors will be a huge factor in profitability, both direct and indirect. 

-To your success, Zach Lemaster, CEO Rent To Retirement---https://www.biggerpockets.com/business/page/3497https://www.biggerpockets.com/users/ZacharyCole/referenceshttps://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-reviewhttps://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirementhttps://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-dealhttps://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-flhttps://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?

The truth is if your investors have no involvement in the operations, If they just put in money and expect to get a profit, you have created a de facto syndication.2) I see a ton of people who just raise money for the syndication. 

Build a strong team of local agents, property managers, and contractors, and reinvest profits to grow your portfolio.

My understanding is profit from lending is considered "taxable income" and is therefore added to your income and subject to your normal tax rate after all deductions, etc.

You're going to need 15-20 duplexes that are considered good deals to get to that kind of profit.

You can negotiate a flat fee, or percentage of their profit of any deal. 

If done correctly it can be very profitable.

Rentals also build equity through tenant payments and appreciation, with profits taxed at lower long-term capital gains rates when sold.

Hard money costs do eat into the profit but a good hard money lender will want to make sure you are making a sufficient profit on the deal after holding costs, etc.