Find some type of private lender willing to do a flexible no doc loan at 50% ltv for them. cons - Given they are a consumer without adequate ability to repay it could be tough2.

A lot of people use private money to buy / fix and then refi with a bank.

Nothing private in a schedule E.

 I am looking at getting a private money from a family member.

Here's the biggest needs & what most people are looking for generally speaking:1) Deals2) Private $3) Sponsors/Key principals to go on a loan4) Help underwriting5) Help with research, making phone calls, administrative tasks, etc.So that said- like @Todd Dexheimer mentioned, what is your skill set?  

My question is what do i need from private money in order to make legitimate offers?  

One of my favorite quotes is an e-mail from General (now SECDEF) Mattis:  "The problem with being too busy to read is that you learn by experience (or by your men's experience), i.e. the hard way.

I recommend making sure you are connected with your REIA and getting any emails they send with property announcements.  

Tristan,It looks to me like you are looking to fund the deal with private money and have the investors be passive while you and your group lead the way and take care of the asset management.

It's just a private mortgage with a 3 year balloon payment.