While I won't have a 1st position loan I will be on title along with a partnership agreement spelling out funding, decision-making, responsibilities, equity dispersal/shortfalls, etc.

He was very clear about networking, forming long term relationships with approved investors and having a track record to get into a position to call one or a few folks and get a project funded quickly.

What exactly is the benefit for someone in my position?

But I think that, Clearly, the best position a Private Lender can be in is a low LTV, 1st lien, they are very well protected, and this type of deal does not require you to borrow more than 15-30% of the ARV in most cases.

I think Michael Quarles was in your position and did really well in his first year cold calling 8 hours a day.

Lots of people were going for the schtick but thankfully I didn't Does anyone have anything positive to say about a guru sales pitch or are they all basically the same?

I'm almost positive you can rent out the VA home later if you decide to move.

. , I am glad you have reconsidered your position on this.

@Mike Todd I know this post is old but I'm in the same position as you were 3 years ago.  

For example (and these will vary, but the overall average will be about 50%), 10% vacancy, 10% property management, 10% taxes and insurance, 10% maintenance, 5% advertising, 5% misc.So, if you want to have positive cash-flow, your mortgage payment needs to be no more than 50% of your market rent (or your market rent needs to be twice your mortgage payment).