I would have a conversation with the agent outlining my expectations (I need same-day responses to my email queries) and your reasoning (because good deals generally don't last long on the market).

The spreadsheet works through all the expenses and spits out a summary in orange basically outlining where we would stand in 1 and 3 years along with the outlay required.

Some investors may not want to buy the property in an LLC so you should check your buyers on their requirements.If your flipping to a Retail C-buyer, then your going to purchase the property with your LLC on the A to B, then resell th property on the B to C, not the LLC.In my opinion, short sales are one of the most difficult deals to orchestrate, but the broad strokes in your outline sound okay to me.

As you complete a portion of the repairs you can get a draw against those repairs, but normally they charge you every time you get a draw (they normally have someone go out and verify the items you want a draw for have been completed, also if they don't know you they may want to see receipts from the contractor that they have been paid).The hard money lender doesn't want to let go of the funds until the money for each portion of the rehab until it is done,,they don't want to end up with no money in escrow and not all of the repairs done.Many times you can charge many of the repairs to a credit card (or at least materials) depending on your contractors.If you don't have any money to your name after you get the deal done, you need to save up before you take on a project, it never goes exactly as expected.If there is a problem with a rehab and the hard money lender ends up getting the property, they either want it repaired exactly as outlined or the cash still in escrow to do the repairsHard money lenders don't require the same credit, income etc as a bank loan or mortgage,,they want to make sure they are covered

Additionally, going forward, if you do come across problem tenants again (hopefully not, and you never know), make sure you add a rider to outline clauses not covered in the boiler plate lease.

I have never invested in notes or real estate owned by a private school (for reasons outlined below)Private schools are a long term, relatively low profit operaton.

@Tommy Spijkers it sounds like a great outline!

This is a super old article, but still outlines the basics-https://www.biggerpockets.com/renewsblog/2012/12/2...So figure out how you want to do it, then analyze numbers and choose the market, then dive in.Not sure that helps, but good luck!

I am going to write a separate post on the forums outlining this specific partnership and all the lessons I learned but here I will share that in partnerships expectations have to be very clear. 

Having some kind of sketch that outlines all of this can be very helpful too!