It takes time and patience, success and sometimes failure, to gain 'experience' at anything you choose to do.  

Additionally, the boots on the ground partner has to be extremely trustworthy.

There are a lot of market-specific issues you'll have to grapple with and also, there are plenty of landmines in MFR on its own in CT that you'll have to be ready for, in addition to the nuances and complexities of developing something like this.

However, this allowed me to gain initial experience and confidence without being overwhelmed by managing multiple platforms simultaneously.

I could buy a LOT of umbrella (additional liability) insurance for $13,000.

Prices a few years ago were based on expectations of (in addition to interest rates staying low): - Then current operating cost assumptions (like insurance cost expectations being flat)- A seeming disregard for record levels of new inventory / supply hitting the market- Extremely high inbound migration expectations which are likely to not be met, due to both natural disasters and the boomerang effect when people from California or the Northeast move to the American South and hate every minute of the humidity, the large and relentless swarm of insects, and the occasional hurricane. 

For short-term gains, options like private lending, where your IRA acts as the lender, can provide consistent returns through interest payments.

Additionally, we have developed templates for tracking key metrics that we require our PMs to fill out weekly. 

However, they can sometimes be higher due to the additional risk taken on by the lender.With a hard money loan, you typically make interest-only payments during the loan term.No, you wouldn't owe any more interest beyond what has already accrued if you finish the project in 3 months and pay off the hard money loan earlyIt's great that you're exploring different strategies for your real estate investments!

In our market it is important to make sure they are a licensed broker, carry adequate GL and worker's comp (and name you as additional insured).