That is, an investor puts their money in the fund, then the managers decide how to invest it. 

@David Waddleton you should read “Finding and Funding Great Deals” By @Anson Young excellent resource; all your answers and much more insight, inside.

Needless to say, I messed a lot of things up.Some things I know for next time:-make sure to include security deposits credit and prorated rent credit in the purchase contract-make sure to keep all addendums that may be needed saved on computer for quick access-get all the necessary documentation for rehab funding from the contractor before going into contract on the property (my lender needed his insurance, workers comp, experience, etc. and I was not able to get rehab funded in the loan because the contractor would not send this to me and it was too late for me to find another contractor)-check that title has gotten the documents correct before they are sent over to the seller-take pictures of the house during the walkthrough for insurance purposes-check for flood zone early on -give yourself a realistic timeline for closing-check reviews on title company before choosing oneDoes anyone else have any recommendations? 

I didn't have to touch my reserve fund.

Property would be purchased for cash in my name using his funds.

I am new to creative financing so my plan was always to fix/flip for capital and then reinvest that into long term holds once I had the funds. 

If you're interested in funding partners, I'd love to visit with you sometime. 

Or confident enough that after getting it under contract I'd be able to get financing for the deal seeng that I don't have the purchasing rehab funds upfront out of my own money.

When you refinance and move the funds into the next property, it appears to me that you are building a house of cards. 

I complained enough that another investor listened, looked at the deal, and funded me the amount I needed...