I was even just listening to some of the first podcasts today -i think it was show 11 or 12 or so  - on private funding through seller financing and how they highly recommended not even approaching the subject of financials until they had met and talked at least 3-4 times prior. 

What’s best way to find/approach/acquire funding from a hard money lender when you have never flipped a home?

If it's the only home on the market that you absolutely had to have and you had unlimited funds, go for it. 

Do you have the funds to invest in multifamily?

Do you have a way to fund the repairs? 

I've personally met hedge fund managers that watch the Charlotte market as an indicator for other markets around the country, while not actually investing here.With all that said, it's extremely competitive.

I decided on 10% because buy and hold index fund investing in the US market you can expect about 7%.

My thought now is to possibly recoup the funds, I close on an additional deal this coming Friday that will have similar numbers, and attempt to find a proper BRRR multi family before years end. 

You're just calling them 'restricted funds' in a nutshell. 

We used 401k funds to show reserves, and that was sufficient.