Start a meetup with other interested parties and the invite your local hard money lenders to give a presentation.

They also say they carefully vet their clients, and don't allow parties or loud activities.

Non-recourse is hard enough to find, let alone new construction so you'll basically need to find a private, nearly private, party to fund such a loan.  

Thank Kevin, the other parties want nothing to do with the rehab or maintaining  a long term rental but I do.

Loan amount can be 75% LTC, 18-24 month io, maybe mini perm 5 years, rate depends, points 1-2Experience of developer team, third party vendor, excess equity of sponsors to cover cost overruns, market demand, forecasted supply, Not sure, we don't really know enough

There are always options.I suggest that both parties are told of the situation asap.

Your first deal is not going to be perfect but the most important part is getting started, continuing to learn, and working to grow your network.

Purchase + reno, I’d say looking into the 1.2 million-1.5 million range.The complicated part is that it is currently a 3/2 duplex, down to studs (will need a couple 100k in reno, close to new build).

As mentioned above you could just act as lender and record a mortgage/deed of trust with promissory note and personal guarantee from all parties in the deal would be the cleanest way to structure the deal.Another option which could potentially yield higher returns on your money is to become an equity partner in the deal, this could put your money in a riskier position and in the case of a default or failure to perform of other partners. 

The hard part is I am having a hard time funding any 20% down payment.