We outlined with permanent marker...

I think it would be easy to work within the laws as they've been outlined.

In the typical lease in our market there is a bed bug addendum outlining the tenant and landlord responsibilities plus paying for damages.

I recently read @Tyler Flagg 's blog post outlining 6 Easy Ways to be Taken Seriously as a Newbie Investor...well, #2 re-assured me that I need to get a more professional email lol (don't worry, no NSYNC email address here!).  

I am sure there are some online based banks, and lenders here that would also do them.From local banks, I found comparable terms as Mike outlines: higher rate, shorter am, 5yr terms.  

Outline your systems and start building your team which will start with a great investment minded-realtor if possible.Happy to answer any more specific questions you may have!

Should I come up with a outlined Business Plan and explain to my Private Lender how I plan to use there Money or can anyone give Insight to a better approach???

Don't worry, if you start advertising that you will gap fund deals for the right investors, then you will have people running toward your door like you just rang the bell for chow time.But you need a strong vetting process, and a very strong contract that outlines everything from interest rate, leverage, and term, but also what happens if they default? 

All of this kind of thing is outlined in the books.I don't know anything about Reed's book.

I think the deal you have outlined is fair.