Whatever you do, keep sufficient reserves.

You have a couple choices one would be the air test if your lender will accept it.

I did not fully commit to their mentoring program because they pitched too hard and because I lacked sufficient capital to purchase the only program I felt was worth something to a person who knew absolutely nothing about real estate: $22,000.

(Not that I would go after them) You usually can only recover what is deemed as a sufficient time for you to get a new tenant... this might be 30-90 days rent, not 11 months.

What determines the success or failure of your choice is luck, your level of understanding, and your passion for it.If real estate is a goal simply to diversify, it doesn't have to be a primary business for you. 

No other choice.

I've also been thinking about partnering up, but am unsure how to go about it safely or if it is even a good choice.

In regards to capital reserves, do you think that the 50% rule is sufficient to account for that?

The borrower must be capable of re-paying back as agreed. 2.Repayment is made Monthly Quarterly or Yearly depending on the choice of the borrower and The Repayment schedule for a Loan is calculated and sent to the borrower.

If the latter, I certainly wouldn't agree to a 60-day maturity, I would request a minimum 6 to 9-month maturity in order to market the finished house sufficiently to sell at top dollar rather than be forced to sell quickly.