Those that say go find a property and then a buyer, simply lack business experience, it doesn't matter what you sell, houses, cars, boats, T-shirts or political buttons, you must know your market, what the demand is, what that target market wants before you can consistently move that product.My suggestion is 1. get away from gurus and learn conventional, basic RE. 2.

The other option is a conventional loan with 20%.

@Brett Van LeeuwenJust a point of caution, I have yet to find a 20% down conventional lender for a triplex, FHA rules are curently 25%.

After the first year, take out a conventional loan to pay back the private money investor to increase cash flow.

I think it was JScott who only sells his rehabs to those who qualified for conventional financing and not FHA.

Assuming you're doing a conventional 80/20 mortgage (20% down) and you're buying a SF at $65k your down payment will be 13k.

are the rates comparable to a conventional loan?

Or do we just get a conventional loan in my name and have an agreement with our partner?

Why do you think we never have BP conventions??

When I refer to Wholesales comps, I mean distressed properties, such as REOs and Short Sales (sold, pending, and actv), in order to access what my inventory levels are in a particular market.