Creative financing includes using the assets available to you to facilitate a financial transaction, but within legal bounds. :)

Also add enough to get through a major repair or two without loosing sleep.

Search the forums for "equity partnership" and you'll see that there are many ways to do this, but usually it's based on some loose formula of money and time invested.

So I need to make sure I can rehab and not loose my shirt in the process.

Heya Dave,My personal take is you loosely lump real estate investors into three groups: speculators, flippers, and landlords (emphasis on cash flow).

You are bound to it's terms.

I don't want to wind up loosing out on a good or great profit twice.

The way I see it im bound to make a ton of mistakes and thought this a great way to understanding more about the process etc.

I just threw some loose numbers together last night see how it worked and now i'm locked out!

Just keep in mind that you guys will not agree on everything and if God forbid one of you could not fulfill the financial obligations down the line because of unforeseen circumstances, the other investor will hold the responsibility of maintaining the investment or risk loosing it altogether.