If you can raise money without stressing out completely, than go for it.

Now on raising $ side of things, I suggest first you do some research on syndications.

would you fund the OP at 75% in this environment?

Certainly from a capital raise perspective, $5 -10 million is a reasonable amount.That being said, raising capital for a blind pool fund is much more difficult than raising capital for a syndication where the property is already identified and the potential investors know exactly where there money is being invested.

If you're having to go out and "raise" your entry fee, you might want to think about other investments until your cash grows.

I have a couple of funding options on the table and I’d love to hear your thoughts:Funding Approach: I have capital partners who are willing to fund 100% of the project in exchange for 50% of the profits.

While sophistication of your equity partners (private money lenders) will vary between residential and commercial, the principle of raising private capital is the same.You need to develop your own system which allows a constant stream of PML even when you don't need the funds and/or don't have an active deal under contract.For example; I raise private capital by offering free educational workshops for people with self-directed IRAs.

Sincerely,Gabe There are a bunch of fund managers here on BP.

I mainly am curious how people have raised capital for their first properties. 

It is not clear to my what you waht from your post.You raised 4M in 2 months.