What are "good" rates in the private lending world?

[Jeff Mihaljevich]

I can't qualify for a conventional loan because I'm a small business owner with less than two years of tax returns. So, I'm looking into private lending. I understand the rates will be higher, but I obviously would like to get the best rate possible.  What is a "good" rate on the private side? 

FYI, my strategy is buy and hold turnkey rental properties with management included. I'd like my real estate portfolio to be as passive as possible.  

[Bryan Hancock]

I have heard of stated income loans making a comeback of late, but this may just be a rumor.  You may try speaking with a mortgage broker in your area just to check.  Bank portfolio loans would be worse than conforming loans, but certainly better than private loans.   The trouble with private loans is that they're likely to have shorter durations as well and thus you'd be subject to more interest rate and refinance risk.  The classical road to bankruptcy is financing long-term assets with short-term money.  

You may try looking into doing subject-to purchases and structuring your cash reserves or access to capital to refinance the properties in the unlikely event the notes are called