I see it as a complimentary strategy to pull some of your money back out and hedge your bet

Best way to think about hard money is as a bridge loan.

Using money from an appreciating asset just to pay your landlord doesn't seem like a good flow of money.

@Andrew Drasch As an entrepreneurial CPA, I believe that mastering your craft is essential, and that investing money strategically leads to greater financial success.

You could sell one house and buy two with that money. 

Eric,, I think why people go for the fund model is the idea that they are spreading their money into multiple notes being held by the company.. while in theory this is great but as you noted you don't really have any security compared to being the beneficiary of the debt instrument IE debt is in your name. 

Personal money How did you add value to the deal?

With conventional financing becoming more restrictive, real estate investors may turn to hard money loans for acquisitions and rehab projects.

Where you really make your money in FL is in the appreciation.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.