I also think you are elephant hunting with a .22, not a BB gun, but still under powered for the size of the project to start off with if you don't have RE experience, and that too can make investors gun shy.

Does that mean they'll be on the hook for the bill or it's attached to the home anyways so if that bill goes unpaid, the home is at risk of losing power if not paid?

Your biggest investors will have the negotiating power, however you can try something like this:Pari-passu: 0-8%, 90lp /10gp First promote: 8-16%, 75lp /25gp Second promote: 16%+, 60lp /40gp Hope this helps.

Establish contact and arrange a payoff so that the lien is cancelled before the foreclosure process is triggered by the "Power of Sale" clause in the senior lien aka Deed of Trust in NC.

Those are by far my favorite learning tool given to us by Bigger Pockets!

We did get a new-in-box big screen TV (50", but about 15 years old), a new water heater, some tools, a couple 8mm video cameras from the 1960s and other random stuff.  

What would you say were some of the forums and other learning tools that helped you get to this point?

Also, I'm not familiar with investability.com, but why aren't you using the analyzing tools right here on BP?  

If you can find a lender that is investor friendly, they can help you "house hack".I think a lot of banks like to see you occupy the property for at least a year... but if you can find a loophole, more power to you!

That gives tenants all the power and will make these types of conversions next to impossible.