I found multiple private lenders (individuals) by going to local real estate Meetups.

The total amount of damage is close to $18k, which far exceeds their security deposit.We sent an Invoice and broke down all the damages by line item and even gave them receipts for what we had and also estimates for the major items like damages to carpet (brand new and installed just prior to their tenancy) and major gouges and deep scratches in all major rooms (we have pictures of everything). 

  ( new construction)  My GC worked yesterday on our new build at 20 F st.. he said the town was abandoned and he got a lot done.. we had three under construction and got them boarded and secured.. but turned out not really needed don't know about high tide though.. 

Based on conversations with several private lenders, I am on the right track with functionality and features. 

We are considering a private money lender or a partnership, but being new to REI, we haven’t made these contacts yet.

Just be sure to document the agreement in a written document such as a "mutual agreement to terminate lease" (get an attorney to draft it) confirming the date they are vacating/surrendering the unit, and outlining what is to be done with the security deposit and any personal property left behind.

It is the later non-owner occupant ones that can get more challenging with loan limitations like having to use portfolio lenders after 10 loans on your social security number, DSCR, reserve requirements, etc.

Feel free to tag me or Private Message me for any other questions.

Distance really isn’t an issue but if you’d rather be present for your first deal then as mentioned above you could go in with another investor and partner on deal, just provide the private money loan to an investor, or a hybrid of the two.

Mortgage is an instrument used to secure the note, if you were buying a house, borrowing money for the purchase there would be a mortgage or a Trust Deed securing lender's interest, it is not applicable for the 401k participant loan.