Ares (ARCC) in particular seems to have good stability along with high yield.Does anyone here have experience or recommendations on potential investments?

., etc.A good projection model will show you not only how to reach various goals, but it can show you all sorts of potential roadblocks that could prevent you from reaching goals (as well as potential solutions to those problems).

Consider what questions the potential mentor may ask and how you would answer.

Is the 10% pref and 50/50 split fair given the risk and potential reward?

It's crucial to estimate the total cost of these renovations and weigh them against the potential increase in property value or rental income.

Repeat that research at the county and state levels. 6 review all info vs your UW and see if there is a land value above $0 that makes the deal work in today’s market. potentially consider a JV project with the property owner after doing the above as a way to make the deal work. it’s not impossible right now based on your question but it is very difficult right now to get the numbers to work

If you got the property using a second home loan, you want to be careful with the amount of days that you stay in the property.If you stay in the property for more than 14 days, it may potentially be hard to utilize the losses against other forms of income.

There is no real concern about wasted effort "hand holding" many potential buyers. 

You might also meet someone that could be a potential business partner.

Review the seller’s maintenance records to identify any existing issues or potential problems.Do your financial analysis to factor in the current rent, estimated vacancy rate, maintenance costs, property taxes, and insurance to determine the property's projected cash flow.