This is a great place to learn and to connect with people so take advantage of all the great resources.

Leveraging your background in custom home building and development will definitely give you a strong advantage as you dive into the BRRRR strategy. 

Are you looking from a more traditional real estate perspective where you're trying to acquire an asset for long term preservation of wealth, tax advantages, to have guests help out with the mortgage payemnts, potentially have rents and home value increase in time with normal inflation, and are okay with the idea of paying some amount out of the pocket some (most?)

This is a great place to learn and to connect with people so take advantage of all the great resources.

You seem jealous because I have a bigger advantage than you did. 

So agree probably taking advantage of those that want to break into lending and your right 1 mil in CA is a drop in the bucket .. 1 mil in the mid west can be 8 to 10 loans not one like CA..

-based LLC for simplicity, but forming a local LLC in the country of the property might offer legal or tax advantages specific to that location.

This has several advantages:1) Much less passive.

The primary advantage is that it automatically applies deposits into the checking account to loan principal.

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).