The term syndication often is used in a multifamily/commercial or other real estate transaction, where a property is being purchased and the GP needs to raise capital (equity, often) to purchase the asset.

The loan often has two components: (1) purchase and (2) renovation where the latter is usually funded through reimbursement.As an FYI, lenders usually require the property be non-owner occupied.

They'd be making payments to me toward the purchase price -- let's say $250/mo for 5 years, then a lump sum. 

Would a local credit union/bank be able to support this at purchase and/or once the rehab is completed?

Property was purchased for 130k.

When you turn a personal residence into a rental, you want to make sure you calculate your basis properly.Your basis will be purchase price + improvements made to the house since time of purchase(Assuming the FMV at time of conversion is atleast this amount).Best of luck!

We were helping a friend renovate a house which had been home to a heavy smoker: one room was so bad - owner had smoked in the same chair for 30 years - that we had to replace the sheet rock on the walls and ceiling.There have been some studies in the past few years showing that the chemicals from cigarette smoke, even when encapsulated with paint, eventually come to the surface exposing future residents, in particular young children.  

I'd be happy to connect you with her OR my sister lives in Indy and we have some mutual friends, one that is an agent, that I can connect you with.

One of the car washes is in IL and the other is in Iowa so I'm not sure if I can represent myself in just the IL and does that mean that the listing agent would have to split his commission with me if I purchase?

The obvious play would be for the low purchase price/cash flow.