BRRR strategy for very first investment property

[Josh C.]

I am looking to purchase my first investment property. I am shooting for around the 70k range. I qualify for traditional financing, but I keep leaning to the brrr strategy. 

- I have not rehabbed a place before

- out of state

Is this too risky to try to get hard money for first rental property? I will use up all my money if I go the traditional financing route.