If you need more to do the rehab, perhaps instead of partnering, you could get your former boss to do a personal loan. 

I can't say when that will be but 4.125 is quite a lot depending on the rate you get.I personally want a hassle free funding experience and the lower rate.

I personally like the town of Oakhurst and the restrictions are less rigorous than Mariposa. 2.)

Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

Personal loan for renovations How did you add value to the deal?

If someone injures themselves and sues, they will be suing the LLC and not you personally.

I'd love to chat. 

Hey @Mario Morales I assume you're planning to purchase the new property under your personal name rather than through an LLC?

A nice but expensive duplex on a beach or in an expensive area might be ideal, if you can swing the other half out of personal funds. 

He’s not a pushy salesman, and I’ve got a business partner who has worked with him for the last 10 years without any issues.As for your situation, I wouldn’t say it sounds like a Ponzi scheme, but I’d strongly recommend meeting with the fund sponsor in person and asking as many questions as you can.