Instead of asking for a full 100% from a partner, just raise money from private lenders to cover the down payment and make sure you work with a hard money lender that allows you to get your down payment from somewhere other than your own bank account.

My mom owns some land on the Nebraska/Colorado border.

I own an escrow company in Irvine, CA and we can close your deal. 

I've owned a number of rentals, done some flips, minor land development, etc. in the past in Nevada and Yuba Counties (still have a couple of places in Smartsville), and am actively looking at new ops in Grass Valley specifically. 

Strasburg Bank, Apple Creek Bank, Sugarcreek Bank are some that have been here for a while, also check First Commonwealth and a great guy that just started his own business - Christopher Liebig of Nonprofit Mortgage (714) 499-5509 .   

Really wanting to bid on a property owned my Fannie Mae but it’s not on market until remodeling is complete.

One of which is owned free-and-clear.

Some will want you to have owned a property.

I think for just one room in your own home with proper and plenty of insurance, there should be no reason to form an LLC…

I primarily work with investors, and owns three SFR investment properties. 2 of which I have taken down to the studs and remodeled. reach out anytime.