It depends on which sale you are buying at.

It depends on the deal, but what we did was give the PMP (Private Money Partner) 50% equity in the property to fund the entire entry fee.Thats not necessarily a rule of thumb.This to me is a sliding scale based on the Cash on Cash return you can expect.Further , we offered our partner 75% of the cash flow until they are paid back in full, then the cash flow return drops down to 50%.All liabilities would also be split 50% with this partner.We called the company we use , who establishes our LLCs, opened an LLC, wrote up an operating agreement and a JV agreement that outlined all of our responsibilities for the asset.

In some respects, it depends on the track record of the investor rather than you timeline of any individual investment.

Here are a couple of videos I've recently watched and enjoyed the varying perspectives.Phil Pustejovsky - https://www.youtube.com/watch?

This way, once you get a property under contract and are through with your dilligence, you can form the entity which can be done in a matter of days if not quicker depending on the state and whether you pay expedited fees if available.

Not to mention you are now paying workers compensation insurance, professional liability insurance, general liability insurance and other misc. expenses of operating a second business, so it really is dependent on the size of your operation and portfolio. 

Most you would just wire them and email paperwork but it could vary. 

If you just want 20yr 2MM non convertible term its price shopping except prices may change depending on how automated the carrier is and if a paramedical exam is required.  

I also totally agree with what you said about response rates varying by market.

It's Unpredictable because you might not always have renters, depending on when tourists come and any rules in the area.