A bank is also going to need to see cash for the downpayment and reserves in your name, and the money can't be coming in from other people.

That depends on how well you know flipping and by the tone of your question, you are just starting out.  

The first unit is ready to go and doesn't appear to need anything over top of the normal turnover stuff.  

My husband and I have done 2 flips since last year using cash but we want to scale and in order to do so, we are going to need financing.  

I suggest you have a nice talk with them, don't give them "who gave you the authority tone".They have long memories, and they could get back at you this year, next year, when you sell year.

If your going to start a fund, your going to need a SEC attorney to draft all your documents, your talking upwards of $30,000.00, but if your lucky and can keep it cut and dry without burning hours talking Q&A with the attornies, you can sometimes manage to get it done for 10k.

Most of the houses are going to need at least some work ($5,000+) and after all the expenses,etc.  

I figured out along the way that the Lamb on trim-work will have a slightly different tone, so it actually looks two-tone.

I've found that my more expensive rentals tend to need a lot less.

A gut rehab is going to need permits and inspections.