Minimum loan amounts vary, but the product we work with most often starts at $500,000.

Have recently started a renovation company with a friend, both of us successful business owners and talented in the trades.

I have couple of lists but not sure which one to start with. 

Start with why you want to do this.

I am excited to start building my portfolio and learning all I can.

Starting locally vs. out of state:I always recommend starting locally if it aligns with your goals.

You’ll want to look at expenses that others have mentioned such as pass through entity tax, education, networking, any start up costs, etc.  

Starting my REI with such a large number wasn't my intent, but is the right thing financially for the long term. 

Raising money is all about marketing and sales (not real estate specific) so either hire marketing agency and read sales books, or hop on some LinkedIn courses on marketing and sales.Not sure the legal structure to use: talk to accountants and attorneys.Need deal flow: talk to brokers and go to a lot of networking events.Lending terms: start calling banks and loan brokers.From there, it is all risk mitigation. 

Its a slippery slope when you start to deviate from the agreement.