If the money is used for consumer purpose there are a boat load of disclosures, licenses and regulations you need to comply with.Also, what is the value of the collateral, if should be substantially more than the loan amount or you could become partially unsecured both as a practical matter and subject to cram down or lien stripping if borrower decides to file BK.Also, if you don't have a deed of trust to go with this note it's unsecured, it then becomes expensive toilet paper.Also, you should get the deed of trust insured with a ALTA lenders policy.Also, this may be a personal thing but I like monthly payments, not everything at the end. 

Outside of a full boat construction loan, every lender is going to want the piece of collateral in working order with no structural or safety issues. 

(Not contrary to his power but contrary to his legal authority, there is a difference)Of course there are two sides to every story.

And this takes a boat load of up front cash to pull off and a lot of expertise..

@Barry Allen, in addition to what others have said here, I'd like to add that saving money at your age is *very* powerful.

Sweat equity is incredibly powerful.  

(PS: they will all have to work together, at some point - better for you if they are used to 'playing well together' in this, as well).Don't make this complicated - just make it complete - start talking to one professional and keep asking until you find the one with whom you are comfortable, then ask them for their recommendations fro the others you will need for the full, legal, and financial foundation of your power team.Foundation laid - build the house!

Leverage is a great tool to increase returns if you respect its power to juice returns (and losses) and know how to use it.

It is a very powerful tool, which most people don't use as effectively as they could.

Then do everything in your power to partner with this person in the fashion of working as co-operating agents.