A private money lender is a private individual you know or have a relationship with such as a family member friend, business associate, dentist, doctor, etc and they are typically not licensed, they are not advertising or looking for you, you need to find them.

The so called Gurus in this industry are typically Information Sellers.....they have info (either general or specific) that they may, or may not have written themselves and they sell that Information in the form of a product (books, downloads, seminars, etc).

Now, $5 doesn's seem like a lot of money.. but what if we run it over the course of 1 typical week. 

I will add the fact that there are things you need to keep in mind when it comes to the HOA fees, Never go with high-rise buildings because those common area fees paid by the HOA will kill you, I typically look at Garden-Style or 4 stories and below, I do have one property that's in a 7 story building but the fees were still fairly low. 

We typically have between 20-60 people attend the monthly meetup.

What are some typical terms for private lending that I could propose?

It's a great city for Investors as typically the buy-in is more conducive than other cities.

That 1% is typically for one side of the transaction while there is still a 3% commission you have to pay the other side.

@Rick MartinezYou are required to have 2 egresses from the bedroom typically. 

Typically wholesalers will ask realtors to add their commission on top of the asking price.