I grew up here and just returned after living on the East Coast the last 3 years.

Lenders that sell their loans today are also taking part in what they call CMBS 2.0 (post 2007 underwriting criteria, where it is very common to see certain terms and conditions implemented for the additional security of the bondholders, and the increased risk of the Borrower (you)).The one thing that I see over and over – even with some of the biggest players in the market, is this: Investors spend a lot of time and attention on the due diligence of the property, economics affecting property performance, property management, repositioning, and on closing the loan - - and NOT AS MUCH ATTENTION IS USED TO PREPARE FOR THIS ENTRY INTO THE FINANCIAL MARKETS, (WHERE THEY WILL BE RESIDING FOR UP TO TEN YEARS) AND HOW IT CAN ADVERSELY AFFECT THEIR RETURNS.

In one breathe you do not want to be a sponsor or managing member but in another you are not wanting to be a passive investor in a larger syndicate.It sounds like you do not want to to work for the yield a sponsor gets but want more return than a passive investor gets as standard investing in a syndicate.Sounds like you are looking more for a joint venture arrangement.Brian Burke is out that way and a member on here and he does large multifamily syndicates.

The return I go on $28k is astronomical and allowed me to buy other properties with the equity growth later.So it doesn't really matter if I make $1 million minus $28k invested ($972k) or $1 Million minus $21k invested.I know a lot of Investors here on BP seem to think that's a big deal or that I shouldn't buy for appreciation, but you can read my post.

This allowed us to put our money to use and earn a bit of return and it allowed him to stay in his place.

Guess what, it was returned/kicked-back as not deliverable. 

@Jordan Lester, you can also get a 'no doc' hard money loan where they don't look at your tax returns.  

I see you're from Dallas -- not sure if you're interested in returning to the area but I know it's excellent for RE investing right now, as backed up by BP podcast guest after podcast guest.

I recommend providing a preferred return to the funding partner.

Hard to get those returns in stocks or real estate.