I recommend you consult with a knowledgeable RE/securities attorney to go over the pros and cons for your offering.

Hi, we will definitely consult our tax professionals but wanted to brainstorm some ideas before approaching them.Situation: Private lending for downpayment and rehab costs for fix/flipWe discussed doing a promissory note, return of X% after 6 months.

Then consult an atty who specializes in business structures

I have the time and a good family friend can consult me along the way who just got done building in the same town.I would even go the modular route if it was cheaper.  

@Mark De sagun I don't know that area but you'd do well consulting with your PM.

@Ethan Ducharme Best thing to do is just consult with a lawyer that specializes in real estate and cpa.

Consult NJ Tenant-Landlord Laws.

Of course consult a RE attorney...There is another suggestion though and perhaps one that will work out for everyone.

Oddly enough, I feel a lot better going to bed at 6am and getting up at 10am, than I do going to bed at 10pm and getting up at 6am.  4 hours shouldn't be better than 8 (you'll have to consult with someone smarter than me in cognitive psychology for the answer to that piece), but ultimately, what matters is still... how much gets accomplished.My recommendation is to never blindly follow a hard-fast rule (like "you have to get up early to be successful"), and instead have some fun and experiment!

I will be consulting my real estate attorney for his advice, but I would love to hear feedback from our community.