They may be able to finance you at a low down payment if you have experience, reserves, and FICO as long as the 65% of the value can support the entire purchase price  I wasn't saying 0 down, but the concept of full return of capital. 15% land purchase cash. in columbus land is let's say 50k we build a triplex for 350k which is very close to 15%. small entitlements, reserves required, etc whatever lender asks for. multifamily sells for 200k per door in our market over 4 units, we are pushing the values up. first ones we are working on because of rezoning, etc but it's a full refinance on 6 month seasoning and do it again. that's the scenario that I was outlining. we do it in the urban core of Columbus where new construction trades at $325 a square foot or more for higher rents and higher equity. we could still put more units per parcel in columbus. these are all infill I hate Lehigh acres. overbuilt, no infrastructure, no commercial drivers or asset.

Here is the city's page that outlines the RTLO, and has a link to the complete document: https://www.chicago.gov/city/en/depts/doh/provdrs/landlords/svcs/residential-landlord-and-tenant-ordinance.html. 

Your brokerage would have to allow it as well, would most likely be outlined in your independent contractor agreement. 

@Viral Mehta While self-management is definitely feasible, it does come with its own set of challenges, especially when managing from an international location with significant time differences like India.You’ve outlined the major tasks well, but there are a few additional considerations:Vendor Relationships: As a property manager in the Dallas-Fort Worth area, I can confirm that having established relationships with local vendors can significantly impact both the cost and quality of maintenance services.

So basically, to know if you are getting less return than the direct to Rise48 people, Spark would need to disclose their arrangement with Rise48 and you would need to look at your own subscription docs with Spark to see if they outline their own fees and carried interest.Although, I can speculate with pretty strong certainty that you are receiving a slightly lower return than direct to Rise48 investors.

So I decided to do a letter of intent outlining the deal I would like. 

From there you can calculate approximate cash contribution from money partner and outline your responsibilities as the operating partner into an operating agreement or joint venture agreement.

I don't have financing for lack of trying....I have been working on financing for the last 9 months or so....I have been struggling for all the reasons you outlined and am not willing to walk away so am paying out of pocket to get this across the finish line. 

However, the call to be honest was very underwhelming -- the guy just mainly explained how they worked/operated and asked a bit about my background/financial goals -- there was zero information on anything pertaining to my financial situation (even though they have this information).After the call, I was sent an email with a PDF brochure, outlining generally what they do/how they operate and a link to pay for $23,750.

The agreement should outline all of that, so it is impossible to tell.