We are very flexible and would highly appreciate any suggestions or recommendations you might have!

Agree with this expect I dont at all recommend gap funding..

@Louis Siano any there are specific areas that you would recommend investing in in Springfield , MA?

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I also recommend you look for someone in your area who is brokering properties for insurance placement companies.

I have a couple of other investors doing this too and we meet often to share knowledge, you may join us if close.By the way, I will follow all recommendations as described by other. 

I highly recommend taking your deal(s) to your local meetup.

However, it needs to be done correctly from the outset, I recommend using an attorney. 

Is one type recommended over another ?

I'd recommend a minimum fee like 10% and you charge interest and points that are equivalent to market conditions, you also get the first guaranteed 20% profit as the only capital partner. make sure to take title in a single purpose entity and dissolve it after you build.