You will negotiate with him on he gets his principal back along a time period and perhaps related to a specific percentage of yield for the use of his capital.

But after having rehabbed a couple properties and built up capital, we want to get into landlording as well.

The Rs are all for capitalizing off every aspect of life, government has a role to play IMO, what private enterprise can't supply socially and economically, schooling is one of those issues.

Reinvesting the interest earned (compounding) means that I am able to double my money in a little less than 4 years.Know some investors do fix and flip able to generate return on capital of about 55% per year.With leverage, return on invested capital gets magnified (so does risk).

i want to start in wholesales to build some capital and then venture into fix and flips and then get some rental income properties

It is not much better than going on a future trading forum and telling how much easy money you can make in real estate.I know a couple ways that work, but without proper managment and proper capitalization, you may have dizzying drawdowns for many months.

How would I raise capital to fund the expense of the NP?

It is important to note that we are responsible for any capital expenditures.  

The structure we have been discussing is non-public capital raise.

I have some client from NYC that flip there, I have learned that upper NY is much easier and doesn't require so much capital.