Knowing you will close or they will get “free money”. 

If 10% is sufficient, do that and keep the remaining money as a reserve or for your next investment.

I mean, if I'm paying that much money, I'm hoping for deal on a house.

Not to say young syndicators can't be great in the business, but I will let someone else prove the thesis with their money first.And to be clear, I don't think experience only comes from being the GP in deals.  

Those people could be private money investors, or investors that can bring you deals! 

I wouldn't consider investing until you have zero debt, complete control over your finances, and money saved up for the purchase.

The fact that he expects $30k for 6 months on a 1.25-1.30 tells me that A) he's either borrowed in the MCA/alt funding/SME hard money space before or is aware of it and B) he's been turned down by the lenders he's already talked to.

Big part of why it isnt renting is people dont have any money .

I pay him money but then he disappears for a week at a time and won’t return my calls.

It will save you a lot of time and money.