One began selling custom flip flops, (bought their own material with money saved), Another who was always encouraged with a camera, attempted to take pics for young people proms, birthdays etc.Then they helped me with a former biz of cleaning up HUD properties during the housing crisis on early 2000’s.Next, but not all of the details for sake of my response.

It’ll be helpful for you to have all your terms of the deal laid out so that they just need to plug in play on a Prom Note and Trust Deed.

A website can provide lots of raw data, but only a knowledgeable salesperson can pick up on the nuances of the individual house, flaunt its pros and talk down its cons.

I pay a lawyer in KC for instance 250.00 for Deed of Trust and prom note. 

@Aaron Wyssmann   I did 350 rental homes in this manner:Investor remained a lender so they did not have any liability issues of being a landlord.In the prom note there was simply an equity participation clause which spelled out the business deal. along with the interest rate on the face of the note... therefore you as the operator or owner if you do well make some upside on rents.. but if your not as brilliant at it as your investor was hoping your investor still gets their % return and you feed the deal or it breaks even.

you first need to make sure the lender in first position will allow a second position lender.. some will some will not.you can simply do a second deed of trust and prom note.. or mortgage what ever is applicable in your state with multiple beneficiaries. you need to check with your state to see if Multi bene loans are legal..

This is like high school prom all over again!

I’ve borrowed with my personal name. agreed unsecured Prom note is what you would do here.. of course Notary is not required on Notes but does not hurt to do it..  

But that can also be in the form of a prom note.. in Oregon Prom note EM was SOP back in the 90s when i first came here and was doing deals..

It would be spelled out in the Prom note.