So today, I would imagine if you have a savings account with extra funds/float money, it could be utilized nearly the same and just as effective. 

But before hiring an attorney, you should just call the developer direct to float the idea to them to see if there's interest.

I joined Bigger Pockets when I first started investing then drifted off but this is by far the best community of investors out there so I'm glad to be back.I am currently looking for my next fix and flip deal and hope to be more disciplined than I was in the past in my processes and cash handling.

I've always bought turnkeys and I've never drifted out of that. 

I was able to sell only one unit to keep me a float while things were rough and slow. 

Obviously, I'm not talking about HVAC or electrical work here, but I've become pretty handy at putting in hardwood (bamboo) on both a slab (free floating, not glued) and upstairs where I nailed them in to the sub floor.

Let's take the boat down the Mississippi, ought to be able to travel on the river.....what are those colored float things along the shore, you mean I can't land there and tie up to rest awhile?

Roofstockand I am sure i am missing a few others.. but you get the drift.. 

Finally, reserve enough money to float your construction draws (you will likely pay your contractor before the lender pays you) Each project and situation varies, but a good rule of thumb is 20% of the entire project costs.

I have. manager and 1 maint. tech per complex and a floating mant. tech.