Your property your rules, you can do whatever you want but if you are looking for a "fair" solution you can split the yard with a fence so you each have your own private space.

@Paul Daniels those are the two methods most often used, but if you do not want to go conventional or hard money, you would either have to go with private financing, or using some personal lines of credit you may have.

I am interested to hear people's advice on either of these approaches, or even the possibilities of teaming up with a private investor to help with a portion of the down payment.

Also, I'm in a very small private real estate investment group that is looking at purchasing property this year.

(Look at a 6 house block and tell me how many are for sale, (the inventory is zero or a large percent.) or include 10 new houses in a 40 house neighborhood sold for $400k last year and only smaller used houses sold this year for $200k, prices have dropped 50%.) 

My Father sold his home in WV and setup seller financing for the buyer. 

You can typically earn 8-12% preferred returns and receive an equity split when the property is sold. 

And what's the going rate for private money if I decide to go down that route and try to engage other investors.Learning every day and I LOVE IT!

Send me a private message and we can get you started right away. 

I hate to see wholesalers, especially new ones, tying up people’s property that is close to foreclosure auction.....usually they just tie the property up, the owner thinks it is Really sold, then the wholesaler walks away st the last minute giving the owner no time to sell to a real buyer.....just keep this in mind, think about how you’d feel if someone did this to a family member.