Obviously my version of story favors my viewpoint, but want to make sure I'm covering myself and being fair and legal.Should be able the get new tenants, but there's less interest with 2 weeks before classes.

It's fairly straight forward and doesn't take long when compared to a 13.

Private and hard money lenders also want to see that you have "skin in the game."

Seems like a lot of effort for ($15000*0.03+$15000*.16/2) = $1,650.Divide $1650 by how many hours this will take, compare that to your normal day-job wage.That being said, if you want to get into private lending then it might make sense as a fairly low-risk (assuming you follow the advice of others in this thread) "learning experience," that's not crazy. 

I'm fairly new to the business, but I do own rental property, participate in my local REIA and host a local mastermind.

I’m trying to soak up as much information as I can about this, as it is a fairly common strategy.

But to be fair and balanced I was not able to get a horizontal loan from them until 3 years ago and I was the first one they had made a horizontal loan to since 2005... :)  that's how tight those loans are .. now vertical plenty of players back in that space.. and you can get 1 and 9 from West coast lenders on vertical HML s 

Absolutely - according to the Fair Housing Guidelines.

I have been on the sidelines and need to get some skin in the game.

How much skin in the game will we need for being first timers.