They can sharpen skills you already have, or expose you to things you've never even thought of.

But if you already own the home, if you have a skill set that compliments theirs or the downpayment money, their experience may be leveraged to finance the deal.And there is always the "friends and family" approach of trying to get one of your relatives to put up the money, either as a loan or equity, to get started.  

Wow both  of you have strong professional skills for the flipping business.

You'll have to convince private money investors you have the knowledge, skills, talents, expertise and drive to help their money do just that. 

But there is a lot more risk and skill sets involved Developing. 

He had seen my ad in the Houston Business Journal, previously had no success with a commercial broker “generalist” and wanted someone with my “specialist skills” to handle the sale.

I am very intrigued by the BRRRR method but my skills and expertise still lie in fix-and-flips.

Financial literacy and investing are crucial skills that, unfortunately, aren’t taught in schools.

Keep learning and building those skills.

How it goes from here is dependent on the market, how the deal is financed, the sponsor's plan to patch things up, and the skill/ability of the sponsor.If you have some time, check out this forum thread, it has 279 responses as of today:  https://www.biggerpockets.com/forums/960/topics/1185204-ashc...I think you'll find some useful input there.