Here's why and how to structure the loan.Lender will go to 75% loan to value creating a 25% (plus closing costs) delta between purchase price and loan.Raise private funds and put them into a bank account for the property to cover the delta.Get a letter from the bank that says xyz, LLC has x amount of money in the account as of this date.

The delta between value add and ARV has reduced significantly since about 2017. 

In a value add apartment deal I look at the delta of current rent and market rent fixed up.

That's some high $ taxes if $600 is the delta between the old and new, prorated for less than a half year.

It is a fascinating business for sure, but just to reiterate Ken's comments, there is a huge delta between experienced operators and the rest of the crowd.  

Based on the delta in the rates I would do 30 year especially if the property has a lot of equity.

Not sure if this exactly the right forum for this, but here’s where I’m at.I’m looking to get started as the “knowledge/hustle” sides of the delta, with my friend having about $60K to throw around.

There are definitely some benefits and some great things you can do with the cash value of your policy, but keep in mind that it will take time to build up your cash value...and there are substantial up-front costs (which is understandable.... it's not a magic product) and so there will be a large negative delta between your cash value and the premiums you've paid when starting out.

And, the money you "give up" will be peanuts compared to what you will learn and the delta on your future you.I think it's a great idea.Best of luck!

Just check the unit specs for the delta between incoming vs outgoing temps. 199k BTU's are not equal.