Question to hard money lenders

[William Melikyan]

I've just began to research alternative opportunities of investing and have come across hard money lending (HML). I understand the necessities of having a lot of money and having experience, but I'm not sure when, or if, to jump in. To streamline the process, I'll list the information I'm looking for below:

1) How much capital, if any, is recommended to pursue HML?

2) Some blogs consider HML a resort for people who don't qualify for traditional loans because of their poor financial situation, so how do you reduce the risks of working with people who may lead to a failed investment?

3) How do you reach people who are looking for HML?

4) In your experience, what are some advantages and disadvantages in HML?

All responses are greatly appreciated.

[William Melikyan]

Thank you for the information, @Jeff S.,  I really appreciate it!