I was thinking about having him be a private lender that simply provides the downpayment for a property and just pay him 8% annually (monthly or quarterly distributions) and but wondering how I would structure it if he wanted his principle out, ie: 5 year commitment minimum, 6 months notice? 

And congrats on joining BP as a PRO member - it shows your commit to real estate investment - take care.

You'll be able to see the quality of their work as well as how clean they keep the jobsite.If you're committed, another good way is to show up at Home Depot at 6:30 in the morning and start chatting with the guys that are coming and going.

It's a part time commitment. 3-5 hours a day, but it's also every weekday, so it is more consistent than a fast food type job.

But honestly I was overwhelmed at the expected time commitment.

Being new as you are to this, you can't yet assess the contract, assignment agreement, survey (if any), title commitment, closing docs, etc.

Suggesting fraud in a public forum probably isn’t s great idea.Ok, you can get down from your high horse now because no where am I suggesting that I plan to commit fraud.  

An owner or investor is committing to a long term partnership with the feds, and the gvt isn't known for being efficient or easy to work with.

@Lindsay Ferlin I see this is your first post so welcome to BP.Part of the answer depends on you and your commitment and discipline. 

Not saying your trying to commit fraud but perception is reality for many.