It is a risk management tool, and we all need those.You could even structure it so that the money partner (private lender) gets first lien on the property, and here again, you would want to have one partner for one lien (maybe not required but seems easier). 

My main issue is finding private money for the down payment.

Is an equity partner similar to private lenders?  

There are now many "private" flood insurance companies competing with the Government run NFIP.

I can keep the second and third position loans in place, but would like to get the personal $30K outDoes anyone have a recommendation for a bank or private lender that will finance around $520K+ (86%LTV) on a rental???

You are asking them to be a private lender. 

How about owner financing or private money ( I don't mean hard money)?

I plan to use hard money and private lending to fund a flip.

Meanwhile, you obtain a loan from a private lender that the dealer will introduce you to.

A colleague of mine and I are considering entering into an equity partnership. The strategy will be fix-and-hold single family homes. Colleague provides the cash, I provide the rest (deal analysis, negotiations, closi...