If renovations are involved then it would most likely be structured as an interest only bridge loan.

You need to really know what is involved and account for everything:1.

As a side benefit, this has helped me engage with people I might not ever have met except that we got involved and "put our money where our mouths are" when it comes to saying we want to help do some good for other people.It's one thing to say we wish to be generous and to help. 

Soon is defined as 5 years or less.So assuming that’s the case your best bet will be high yield savings account (ally bank is around 1.75 percent I think) or a money market account

For starters, we would be leaning more towards the first strategy (there are not many duplexes on the market here) but would like to get involved in live-in BRRRR's in the future. 

Document all conversations you've had with all involved parties immediately.3. 

I find that recommendations are so much more satisfying than trying someone out at whim, and often much more beneficial to all involved. 

It’s helped me understand the different trades that are involved with rehabbing a home.

The downside for them is that they won't start getting any payments until you do, and there is more risk involved for them since equity holders get paid after debt holders in a liquidation.

So in a severe fire it would make sense to offer land value , but yeah getting a contractor in there would be my best bet.