I am also a recent college graduate (just graduating this past May) I have some funds saved up, but as of now I am looking to partner up with other investors to go in on my first deal.

Turn key companies at least the one's I fund do not buy property back and do not sell for others .. they will buy back but they will want to make the same profit... so they need to add in another fresh make ready or rehab.. ( their clients expect it remember its turn key)  the  cost to borrow the money from someone like me or a HML..

My next step is to use hard money financing so that I can leverage my funds and be able to do more than one house at a time.

I need advice on the best way to use my funds.

Thankfully, I did well enough with my own design work my bankers was impressed with enough confidence to continue funding me, and I also rejected the notion I was going to willy-nilly my way into a business that will last.

We talked about deal structures, funding for mobile home parks, zoning, septic versus sewer and slew of other topics for the entire hour.The information my friend shared was invaluable.

They kept fees static during the recession, and we (I've been on the board of directors for the past 3 years) only began to raise them again two years ago with a 5% increase, and again are considering a 5% increase next year.  

(It's actually a property that I've eyed for a couple years, just daydreaming, & reached out to the owner llc during that time but never heard back). tl;dr My idea so far to purchase would be a short term 12-16 month hard money loan, 80% purchase w/ 100% renovation, with private money coming in to fund the 20% & points, refi'ing into a conventional note with my local lender who I have a decent relationship with when the first note balloons. 

., causing your negative spread to be even greater.On the other hand, you could try to pick funds or stocks that yield higher and capture the spread.  

As of now I am trying to start up my wholesaling campaign with very limited funds.