Your capital contribution is 9% of the total, you have a hard road describing why the rest of what you are bringing to the table is worth 38%.

Sounds like you might have underpriced your deal, there's probably more profit buried in there that you left on the table.

There are more than just a few people looking for free help, or offering a free coffee in return for "picking your brains".Think of it in terms of both effort and value what each of you brings to the table. 

If your requested loan amount ends up being $60,000 on a $125,000 to $150,000 purchase price, that is sub 50% LTV and I would expect you to have many options on the table if this is a true purchase.

I'd be leaving too much leverage (at historic low rates) and opportunity on the table. 

I would say look at people you will need on your team...realtors, title companies, inspectors, contractors etc and start with where you think you will be a good fit and what you can bring to the table... hope that helps!

I bring to the table $250k+, a lifetime of general construction experience with tools, the ability to supervise and live near the project until completion (I own a truck camper).

@Phillip Costa - a few links to consider:https://www.philaworks.org/data-trends/ - Philadelphia's workforce development boardhttps://www.phila2035.org/citywide-vision - Philadelphia's vision for the future (not set in stone just what they're working towards)https://www.bls.gov/regions/mid-atlantic/news-release/areaemployment_philadelphia.htm - Bureau of Labor Statistics (take a look at table 1)https://www.philadelphiafed.org/-/media/research-and-data/regional-economy/beige-book/2020/200415-bb.pdf?

Important thing is for you to understand when you see this and stick to your numbers, don't reach.Also, I know you're just practicing with underwriting so you're grabbing the first thing off loopnet to crunch some numbers but when you start filtering down to your target market, you're going to want to know how the taxes will work and what the mill rate will be so you can calculate accurate tax figures.You'll likely also need 10% of loan amount in liquid funds post closing so factor that into how much money you need to bring to the table, in addition to the down payment.If you plan on syndicating, definitely need to practice calculating IRR and CoC based off different splits and prefs/no prefs.

When you take those figure it is technically a recapture.When you look at how the depreciation table is, in the five period it is normally called the breakeven point for add back.