I am reaching out for some valuable insights and advice regarding an opportunity that has come my way, and your collective wisdom could make a significant impact.I've been in contact with Loan Direct LTD, particularly with James Baldwin, who claims to be a private lender offering various financing options for real estate projects.

a local marketing guru who would frequently meet with us to discuss various business strategies to help grow our detail company heard about the offer. at the time he found out about it the current carwash owners had all but signed an LOI with an out of state private equity firm but were willing to sit down with us and hear our offer!

But their minimums are pretty high for a tenant in common purchase. 

Due to FL insurance issue, I will drop all places in FL.Drop 9.Memphis, TN due to high crime.In NC, I prefer Raleigh or wilmington.

I am offering 1.5m (as it needs about $200k in updates for our tastes).

We DO plan to offer these marketplaces in future years, and hope to meaningfully cut down on situations like this (although you can never fully avoid them). 

They don't want to sell their home, however, but would rather keep it and turn it into a rental property, esp. since it is in a very good school district.Their current LTV is like 20%, very high equity. 

We have had offers of $430K on it few months ago as was.

I was surprised even though the elevation is not that high (4.5k?)

Is anyone aware of a more near term fund that offers cashflow earlier on and isn't a full development cycle fund?