Hello, I'm Sadish living in Greensboro, NC and an IT Professional.

first off if you have to buy a system those are not true private money lenders those are HML ers full stop.private money lenders are folks that you meet personally.. at REIA meetings etc.. other professionals that you may encounter in your day to day that would have invest-able cash. many of these professionals will have IRA solo K profit sharing plans and those are your perfect investor. otherwise quit wasting your time and find the nearest HML that are REAL  ( tons of fakes) their rate will be basically the same as private lenders generally speaking

Aaron, You should really consult a tax professional. 

@Jay Lutz Make sure you have a very detailed, professionally drawn up partnership agreement with at least one or preferably more exit strategies written into it.

Things such as: Move your AC condenser to the side of the house instead of the rear, Fix your garage concrete slab, your garage party door is 7ft wide when it could only be 6ft.

. :-) Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Hey Logan, I’m late to the party but would love to connect with any reliable GCs you can refer my way.

And that’s too bad, because the concept can lend “clarity of purpose” for many investors.Often, we in the real estate arena, get caught up in our real estate “business”, with an emphasis on “cash flow” or “spendable” income, the professional investors equivalent to salary for the wage earner  and met income to the small business owner.  

When I was starting out in real estate, I faced a similar challenge and found that connecting with local investors and professionals was invaluable.

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