I am new to GP/LP deals but not new to development.

What made you interested in investing in this type of deal?

There's still tons of positive cash flow and deals that hit the 1% rule plus amazing appreciation potential!

After some rentals, flips and wholesale deals I landed on private money lending.

Financially this deal makes sense; however, I am concerned with the safety aspect… I must live there for a year since I am looking for an FHA loan.There are areas close by that i know can have criminal activity but I am uncertain about this specific area (1-2 mile radius).

It's probably best to start by reading up on some books on the subject as well as networking with others here who have done these types of deals already. 

The cost of hiring the right person is significant and may make the whole deal not worth worrying about.

I appreciate that, but I also want to be able to do a very quick swag when doing some deal analysis to even decide if it may be worth further exploring.See this following discussion that I thought was somewhat helpful:https://www.biggerpockets.com/forums/24/topics/1174379-rehab...Your description sounds similar to what this thread describes as "Light Rehab"? 

Not sure where you are at with flips as another potential stream of real estate to get into but that's mostly what I work with.We have a couple deals on the east and north side that might be worth looking into if you are looking to expand.

How did you find this deal and how did you negotiate it?