I've done it, and so I believe I can say something useful about it.You mention in your profile that you have 20 years of experience as a contractor.

Anyone have a experience with insurers in this area and/or for this amount? 

As a real estate investor, I would like to learn how to properly put together a private syndication from an attorney with experience in this field.

Does anyone have experience building spec houses in/around Rochester?

I've had nothing but bad experiences with South State bank.

However, I would like to gain some practical experience in the world of Notes as well.

What is the value add to the builder for his time, management, experience, subs, etc.?  

You don't need to know everything to get started; you need a foundation to build on and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

However, I would like to gain some practical experience in the world of Notes as well.  

Outside of real estate, I enjoy traveling, spending time with family, and boating.Excited to learn and connect with you all!