It is a risk management tool, and we all need those.You could even structure it so that the money partner (private lender) gets first lien on the property, and here again, you would want to have one partner for one lien (maybe not required but seems easier). 

I thought it would be beneficial to learn even more, plus gain the ability to tour houses and make offers without a middle-man... if I can make some money on the side helping other buy/sell, that's a bonus too.

My main issue is finding private money for the down payment.

Is an equity partner similar to private lenders?  

There are now many "private" flood insurance companies competing with the Government run NFIP.

I can keep the second and third position loans in place, but would like to get the personal $30K outDoes anyone have a recommendation for a bank or private lender that will finance around $520K+ (86%LTV) on a rental???

They want certainty of closing and a buyer that they know can and will get the deal done with minimal hassle and no renegotiation.So submitting offers without touring the properties isn’t doing you any favors.

You are asking them to be a private lender. 

How about owner financing or private money ( I don't mean hard money)?

I plan to use hard money and private lending to fund a flip.