@Matt Lavinder Thanks for the feedback and yes I was kinda thinking more of just having something to keep me on track.  

considering that you are an experienced rehabber, you should already have an inside track to finding good subs. 

Investors look for strong sponsors with experience and a long track record.  

Professionals with decades of experience and very impressive track records do all the heavy lifting for you. 

I know of 1 bank in Atlanta that has a product but it is pretty close to hard money rates with fees and takes 45 days to close for investors with long track records.

im not sure where the thread got off track. 

I trust I am on the right track of learning more about REI.

Putting that idea into action is where many people fail.The best way to attract an investor is with a proven track record.  

but the investment made sense to me for the following reasons:- the sponsors have a substantial track record.- rent comps checked out vs the planned rent raise & reposition- comparable sales made the valuation of this deal attractive- the preferred return structure was in line with my expectationsI have other reasons which are more specific to the deal which I'd rather not disclose.

In Iowa, you can hold dual license.