You are operating a business and need to be professional.

Tell me why this is a dumb idea, but let's not get lost in what-if's.Lastly, who are the professionals that I can talk to, to make sure that the work I'm doing will result in a property that is bank finance-able?

Once the property is fixed up and sold, You and The Private Lender will Split Profits 50/50, or whatever the agreed upon split would be.Usual Private Lenders are friends and family and High Net Worth Professionals (doctors, lawyers, other real estate investors)Best Place to find them are at your Local Real Estate Investors Club. 

I live within this radius, but still choose to use a professional PM because I work full time and choose to outsource that.

We sold primarily to professional builders and remodeling contractors. 

Hi, My name is Isaiah Coble I am a real estate professional.

You should seek advice from an Attorney and/or a Tax Accountant.  

I guess the first question is to find out what program she is seeking assistance from or is expecting to get assistance from.  

It's called the Professional Investors Guild, and I think it has a nice group of folks who regularly attend.

Always open to advice from experienced professionals.