On the other hand, true private lenders are not professional lenders and hedge fund type lenders (which is what hard money lenders are), but instead are regular people in your circle and sphere of influence.

I went through it anyway bc she had a good footprint online, I liked the designs, and a couple of ppl at another STR group recommended her (not an excuse, I was super busy and thought I was dealing with a professional).

For example... snaking the drains at a cost of $170 during the turn... no reason, just because. 

He is a realtor that I previously purchased a small portfolio from and therefore had a good professional relationship.

So, I am not a "professional wholesaler". 

I'd only add to get a professional inspection done with a very thorough team.

Most professionals beyone me on BP most likely have seen this side.

There are several hurdles during the process:Find the deal - Unless you are marketing or plugged into a community where there are opportunities, it isn't always easy to find the right dealsEvaluate the deal - Without professional guidance and research tools, it is difficult for a newbie investor to evaluate and ARV/FMV or create an adequate rehab budgetSecondary exit strategies - If things don't go as planned are their other opportunities to exit profitably.

Readers should seek professional advice.

They will try to run 2 kitchens and that can mean clogged drains in your wet bar kitchen.Be sure there is personal recourse when you need to sue them for $40k in repairs above the deposit.