Getting started BRRR plan

[Ty Cover]

Hello, I’m just getting started in real estate investing and I want to run my plan by you. I’ll find a hard money lender for an auction property, renovate, refinance and rent. Seems simple, but I know there are issues I’m not seeing.

What should I look for in a hard money lender? What areas should I focus on when considering an auction property? The tax advantages of refinancing are appealing, but would flipping be a better option. Any advice is welcome. Thanks