For context, I will be assuming his VA loan at 5.1% and he will be doing seller financing for the remaining equity and sale price. 

Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.

Raising money is all about marketing and sales (not real estate specific) so either hire marketing agency and read sales books, or hop on some LinkedIn courses on marketing and sales.Not sure the legal structure to use: talk to accountants and attorneys.Need deal flow: talk to brokers and go to a lot of networking events.Lending terms: start calling banks and loan brokers.From there, it is all risk mitigation. 

Most people think real estate investing requires huge capital, perfect credit, or bank loans—but that’s not always true.

My apartment bldg has 6 units, so it's a commercial loan.

If it is someone you know you can give them a straight return as if its a loan - can provide a lower interest rate to provide upside - it really depends on the lender and what are they concerned with and what is their risk profile. 

I started listening to the podcast and reading real estate books about two months ago, and I’m excited to take my first step into real estate investing.I’m currently in Spokane, WA, and I’m pre-approved for a loan.

Considering a rate buydown on a DSCR loan?

A self-directed IRA or 401k can be a great vehicle for loaning money to others without getting hit with taxes on the interest income.

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)