I know a local guy who does tons of flips using people's 401ks and I just thought we could work out some sort of joint venture..

On the lower end of the spectrum, I'm doing JV partnerships with individuals on on-off NPL deals where they provide the funding, I do the workouts and we do a profit split on cash flow and/or capital gain.

When you buy right(as you did) and have multiple exit options(as again, you did), things tend work out in your favor at the end don't the?

If done correctly, they are far less cash intensive and offer a lot of flexibility which is ideal for someone with limited working capital.

If they don't work out, I move on to the next best one.

Hopefully it will work out for you too!

If a property later experiences problems the lenders only recourse is against the property and not the borrower unless you violate the carve out provisions.The non-recourse is good because the lenders are more apt to do a work out on the loan than take back a defaulted property.Example you put down 1 million on a 4 million property. 5 years from now on a 10 year loan call the market is bad etc. 

How did the timing work out for how long you could consider the data before having to put in an offer.  

I also give myself some time each night to process what I've accomplished that day.I think being on top of your game in the work world requires a holistic approach, so I also workout every day in the morning and I'm always looking for ways to better myself, both in respect to family, friends and business.

It would be management intensive.