I waited until May and raised rents to slightly under market rate that way I felt I could get someone in during the summer months if they wanted to move.

I see investors raise deductibles to maximize cash flows but that would also bring higher risk in the event of a loss.

I loved this project and really got to flex my design muscles on this one.

However, I am getting hit with some limiting beliefs that are preventing me from even having these conversations.I’m hoping those who have raised private money before would be willing to share their first experiences.

BUT you do raise some fair concerns.  

Raising some down payment cash through other investors is a likely fix to your dilemma. 

As others have said, most of the time there is wiggle room down to about $25K as the lowest I've seen; a bunch of $25K investors on a $5M+ raise for example is just a lot of back end work to carry.

Is this some sort of friends and family deal or is this a syndication where you have raised funds? 

@Roli E. maybe, but they could also raise concerns about insider transactions as fraudulent transfer of assets.

I'm the lead sponsor on two projects and have extensive experience with asset management, underwriting, and capital raising.