@Alecia Bolton We used Darin Mangum out of UT to draw up docs for our first Fund.

I find it a good thing to do as I learn the best "patter" and I learn what folks are looking for, what the market will bare, what about my rental draws people etc etc.   

It doesn’t have a “fixed” interest rates since it’s more about winning your interest as a “prize” for drawing lucky numbers, the more you deposit the more numbers you can play, increasing chances of winning interest.

I call it a Rehab Plan and include Pics, Bid Break Downs of jobs, Total Cost, Drawings when permits are needed, After Pics from Fiverr if needed like on TV, structural engineer recommendations, if needed for the bad ones, and before they close a sewer cam.

A commercial lender is loaning out other peoples money, they have boxes they need to check and narrow frameworks, but is a great option when you don’t have access to a private money lender.Make sure you are drawing lines with a private money lender though, they are your lender, not your partner.

R emailed us the scope of work that he finished that he already pent 68k and he stated actual cost will need 20k more .He told us the cabinets he bought got stolen in the house, he need take more draw from lender to complete the house but Lender has stoped to release the draw cuz it didn’t finish as he scheduled.

Another tactic is do FSBO, that will draw low fee agents who want the listing and open door for negotiation.

Or if nothing else, set things up as a business and you can draw an income from the business to show you have w2 income.

This way you don't have to worry about buyers and can just focus on finding deals and draw on your partner to check your numbers. 

So I’m wondering where do you other more experienced investors draw the line for “distressed”?