What I like about MN is the solid market. 

You may find another trustworthy investor who needs a little funding and just be an equity partner for them to get some solid ROI.

I am looking for an agent that works with investors in the Chicago area frequently who could direct me to a solid lender.

Mainly because investors are bidding up the current inventory purchase price and squeezing the budget for the renovations to where only people with solid labor connections and do it your selfs can pull it off.

You could be at an avg cost or instantly and a huge cost bc your lot just happens to have too shallow of top soil and hitting solid rock to quickly and you have to get a completely different septic system thats double the cost. 

After commissions and closing costs, holding costs, etc. you are looking at less than 20k profit before he pays you, IF nothing goes wrong AND the numbers are completely solid....It's a little risky for my taste.

In addition to Cleveland which I am going to guess you are already pretty familar with there are many other solid turnkey markets. 

Your attorney will be able to advise a solid approach based on what you want. 

I appreciate you all taking the time to respond with solid feedback. 

My question for you is what would happen if the recipient of the capital defaults?