The target property almost definitely has to be a value add minimally distressed property that can be refinanced after repairs, or just a fix and flip.

You can learn to do assignments, for example, far from your neighborhood which pose no risk and have minimal capital requirements.

Even thought the split will be very minimal (35-50% of each transaction, desk fees possible, etc.).

. * Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)* Don't allow for your own independent property inspection* Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use      unrealistically low vacancy factors)* Require you to pay for any renovation upfront* Sell only in cheap. low end neighborhoods* Don't accurately represent the neighborhood/property classification* Don't have consistent rehab standards for all properties* Don't provide a scope of work for the property* Can't provide references of repeat investors* Require you to close before a tenant is in place

Tax accountants I've worked with, work well on a transactional basis - you decide the investment strategy across different assets, and if that means $X towards ABC real estate, they'll advise how to minimize tax impact.

We had minimal contingencies (we know...not ideal) and recognize that our EMD is potentially on the line now.Thank you for your reply, @Minna Reid. 

Youll make mistakes in the beginning, but if you start small and put the right "team" together (i.e. a good deal finder such as an agent, a lender, a property manager, etc) then youll minimize your risk while learning so much from diving in.

SFR inside the loop needing minimal work to be rent ready.

Could you have positive cashflow with minimal equity left in?

Ignore the marketing BS where they pretend to be "private money," that's the same as the guy at the car dealership pretending to be your friend.TLDR: A private lender is someone you already know and will generally beat a HML, who in turn is someone you don't know that is out to maximize profit and minimize risk.