Maybe he's talking about a private money lender??

I wouldn’t buy a house to live in right away, as I need to spend the first 12 months studying the area.

Maybe he's already charging above-market rates and needs to adjust expectations.I don't see the justification for spending $12,000 to install electric baseboard in four apartments.

Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.

You indeed have to spend that much money.

Time is a valuable resource and "spending" it everywhere at once isn't worth the effort.

Raising your credit score will get you far better rates personally as well as with private lenders for your LLC. 

I put 20% down using personal and private lending.How did you add value to the deal?

Investing in area you're less familiar with combined with multiday travel can be more costly than spending more in your own market.

Or, ya know, just spend the next 140 hours trying to get a self-study law education followed by another few hundred hours self-study to sort out how to avoid repeating the situation.That's the reality of it all.