You could do something similar that way qualified buyers can peruse the list on their own and let you know if they want to buy.

Seller owns property free and clear and you guys sign a purchase agreement for 100KYou put down 10% which is 10K to the seller(skin in the game)Your hard money lender put in 90K, which is the rest of the money due to seller, to get to that 100K owed.Then Escrow closes and your seller has the 100K owed to him and then you pay the lender who put in 90K monthly interest only payments till you resell/refinance the property paying off the 90K owed to him.

In regards to the substantial renovation bit, and assuming we could qualify SOME of the renovations as expenses, are there guidelines on what renovations what would qualify as an expenses vs capital  expenditures?  

Does anyone know of a qualified and reputable contractor who works in the LA, OC and Inland Empire area? 

Additionally, are their different requirements for qualifying for a loan to purchase land?

Getting good, qualified tenants into your properties will take a week or two at turnover and more after initial house cleaning.There isn't a shortage of crappy multi's in Ogden. 

But, because the loan is to be kept on the lender's books the rates/terms are not as attractive as Fannie/Freddie.I have investors as well as our own money that make these "non-seasoned" loans to well qualified borrowers.

Qualified Borrowers with decent credit and verifiable W-2 and/or Tax Return income can purchase a SFD, Townhome or Condo on the following program:Purchase loan at 95% LTV up to just under $851,000 with Closing Cost paid for cooperative, pre-approved borrowers. 

@Paul DeSilva:@John Leavelle and @Anthony Gayden (above) are both correct.Unless you have more than 10 residential mortgages, or the properties are above the jumbo mortgage limits or you're trying to finance the the properties with the LLC intact, then they should qualify for conventional residential FNMA loans.For the LLC situation: my strategy is to close the loan under my personal name (no LLC), then after a few months of "seasoning" to establish on-time payment, notify the lender that I plan to drop the property into an LLC strictly for asset protection purposes.Many seasoned pros will tell you that you don't even have to notify the lender that you plan to do so, but will warn that doing so runs the ever-so-slight risk that they may actually call the entire loan due immediately.

Buyer often pay 50 up to 100% in cash.Let me know if you are qualified.