raising private line of credit/ starting a fund

I am looking to start investing in non performing notes. 

I have done a few flips but have not done any notes yet.

The problem I am running into is that currently my capital is tied up in a flip and from what I have gathered when investing in notes, unlike flipping you generally need funds available prior to getting a contract.

I am 20 years old and I have no access to traditional financing beyond a few credit cards.

With these things considered I have come to the conclusion that my only option for leveraging would be to raise private capital on a line of credit basis.

So on to my actual questions:

1. Would it be wiser to wait until I have a track record with my own money in a new investment scheme before bringing on money partners despite having real estate experience?

2. If going the route of raising private capital now; how would you approach doing so?