I put 20% down and the private lender came in with 80% and added a $20K construction loan.

Additionally, I have a lot of clients that are private money lenders if you are ever in need of financing.

In Chicago some of us are charging a move-in fee rather than charge a security deposit.  

@Michaelmy apologies some times it takes me a little bit to answereasiest way to explain formula for youArv is After Repair Value meaning after full renovation or repairs this is what the house will sell for 30-60 days max based on comparable sales (aka comps)I prefer lower 60% of the ARV, because I prefer to flip to a retailer, by wholesaling, and earning a small fee for finding the deal and securing the property via purchase agreement option or a few other various formsmost of my ppl buy at 65% or 70% so due to my preferred method of wholesaling, I must buy at prices below these "strike prices" or buy prices...just so you know I am a contractor, so my repair costs are known when I look at property.

I know people who have 10+ houses that they bought and now manage - usually together with a private lender. 

This is probably due to the fact that most students coming out of professional schools have much better job prospects with higher paying salaries and more job security than what is afforded to many undergrad degrees.

Look into making private mortgage lending. 

I currently work for state doing IT Security.

Example: if you are a flipper that wants to buy with low money out of pocket, then you would need to study that system and the private lenders market.

I will reach out to you via private email.