I have clients though that I fund that have built some incredible portfolios. 2 of them over 250 SFRs that I funded for them and they refinanced and paid me off..

During the escrow/title process, you are finalizing loan documents, reviewing title documents (HOA disclosures if applicable, title reports, etc), obtaining homeowner's insurance, and preparing to wire your funds to title. 

Personally, I advocate for a long-term investment strategy and would recommend investing the funds, provided you are comfortable with the expected return on investment over time.

There are good relations with the neighbor so this likely wouldn't be terribly difficult to pull off, but I haven't ever developed a property from scratch so I would definitely like the opportunity to partner with someone on this to help ensure the success but first I want to finish the smaller property to have sufficient funding available if it is needed.

He really is a proactive person.

I have high equity in my current duplex so planning on using that to fund down payment for the next property.  

I also want to learn how to fund my first rental property

If I were to look for other funding I’d look for an investor with a set return.

@Nadir M. you would show 100% of whatever you collected on behalf of an owner.Of course, if tenant pays via credit card, you would NOT include the credit card fees, because you did not receive them.From the funds in your OPERATING account, you would pay any expenses on behalf of the owner, including your management fees - which you woul transfer to your PMC account.Owner will be paid from Operating account.Your vendors (office expenses, auto, etc) would be paid from your PMC account.Year end, you are require by IRS to send a 1099 with GROSS amount collected on behalf of owner.

I am a mother of 2 and trying to get into this to save up college funds for them when they grow up so that they too can chase their dreams in life.