Anyway, private lenders being the best route still though relationship dev & nurturing is paramount and timely where time is not our favor, portfolio lenders such as Colony (interviewed w/them) and alike being 2nd choice and, local banks with a set up channel or that are interested in servicing these type of transactions could do good for all.  

I am really struggling with HOW to find private investors!! 

You will need to find a lender who will portfolio your loan or a private lender. 

Like Rob said the HELOC would be great but don't forget about your partnerships and private money, i.e. portfolio lenders.

I'm hoping Bigger Pockets can help keep my spirits up, guide me in the right direction so I don't loose all our savings and maybe even find me a partner/private money to lessen the burden on this newbie.Sorry for the long post.

Private message me and I can share more Larry, nice to meet you by way of BP - all we do is full "redevelopments".Best,John

I am not going to reveal his name yet or report him to any authorities until I get all the details.  

Personally I would stop if the credit report reveals that the owner is not paying the first.I don't know the situation around your purchase of this note, so I can't really criticize. 

We had been in talks with another duplex owner in downtown Phoenixville but his $320K asking price and our $20K in private startup cash weren't a good match.

You have the option of selecting a city inspector or private inspector (who is a regular home inspector on RRIO's approved list- we went this route), and he inspected the units the city requested, plus the exterior, roof, common areas...