Or more simple, use the HML or a small local bank (talk to the commerical lending department) for purchase + rehab funds all in one deal.Good luck!

I love seeing others lend advice to newer investors.

@Chris Lynch Century 21 Commonwealth Realty on Guam offers classes at their N.I.C.E. institute.

Lawrence Johnson , are you still operating/lending for properties in PR?

I would suggest narrowing your search to banks that lend on their balance sheet and service their own loans.

But there are other opportunities with private lending and commercial lending.

This beats 5% Fannie Mae loans, no lending fees, and no DNA samples needed for the loan.

@Mike WoodMy thoughts were involving the partnership is to have a 50/50 split of the equity.I'd fund it (down payment, dealing with lending etc) be involved in some of the sourcing of materials, paying bills, some of the grunt work (yard, painting possibly, handling setting the plumbing fixtures or hiring out some of it...then lease up, paperwork and management.  

You could contact @Ann Bellamywho does private lending.

Easy way to look at things are any institutional, or Hedge funds buying in this asset class.