When we did it, we did score some great deals, but what we found was that we were visiting so many properties to understand our "strike price" (the maximimum we would pay for the property when taking into account rehab costs, hold times, interest on any debt, closing costs, real estate commissions, a contingency reserve for "unexpecteds", etc) that the math started to not make as much sense.

A big part of succeeding in this game is simply staying in the game.Make sure to take the lessons from this experience so it’s not in vain:•Always keep reserves.

Norada’s promissory notes generate predictable monthly passive income transferred to the investor’s funding account via ACH,” ( Link ).Santarelli confirms these fixed, double digit returns in a detailed YouTube video presentation (Link, at 35:08).

I'd consider doing some kind of cash out refi on the property at a number you're both comfortable pulling out, while still leaving $ for reserves to maintain the STR you currently have.

How much reserve would be reasonable for TI/LC?

A ground-up construction loan for a new investor on some vacant land would also be a no-go as you must be able to show successful exits (refinance or sale) from a few projects before that's an option.So, we need to be able to see funds in your account that can cover the down payment, closing costs, and some reserves left over that will allow you to start your rehab.• No entity to close in: Though an LLC/entity is not a must-have, it's a nice-to-have prior to seeking financing.

Next is getting to the work of researching that market to confirm viability, building the TEAM, the How-To for strategy. 

You have written confirmation that he is out.

I then went to Aerolan to confirm availability and there were 8 biz seats. 

There is a potential scenario where an outside rescue fund (marketed as preferred equity to new investors) could come into play in many of the projects that appear to be performing especially if they have been paying the pref (via a reserve account stockpiled by over raising funds in the beginning).