The OP is currently exploring conventional rehab loans (presumably 203k or similar) which would indicate that he is intending to owner occupy, and therefore hard money loans are likely off the table (as most HMLs are not NMLS licensed and don't make owner occupant loans).That said, to the OP, if you're looking at a conventional rehab loan you're just going to have to accept higher costs, less flexibility, and more red tape.

She might be referring to transactions that don't reach the closing table due to the buyers' fault, and then they would refer someone they trust to close.

Let’s do it if you still have this offer on the table. 

That’s telling him to leave money on the table.

I think the easiest way to find the right partner is to find one that you are aligned with as far as investing in rental properties.The other option would be to keep flipping properties until you get enough money for a down payment on a rental.Another option would be to look for a BRRRR (buy, rehab, rent, refi, repeat) because then your friend could still bring money to the table and you could pay them back their portion plus interest and then you keep the rental property.What area of Chicago did you do your flip in?

Quote from @Selina Giarla:All this being said...I CANNOT find a good deal.The proper translation of “I cannot find a good deal” is “I cannot find people stupid enough to leave money on the table.”The proper response to that is: “Why should they?”

Using a phone or table for everything is not always the most efficient method. 

But when we get to the closing table we usually have a pretty good idea about what we're going to have to spend to bring the property up to our standards and how much it's going to cost us to do it and over what time periord.

By assigning an agreement to someone who then completes the purchase, you have in fact brought that consideration to the table at the time of the transaction.I'm wondering if there was some other intent of that language - such as to prevent a homeowner from being screwed out of their house via some "creative financing" scheme that benefits a 3rd party (e.g. investor) while not providing any (reasonable) compensation to the seller.

I'm checking to see if we're able to get a loan on a manufactured home, but generally I would look to get into a syndication (tax advantages, etc.) or private capital fund (10-15%) which is where I'm seeing we may be leaving quite a bit on the table.