We used $100k of private money and the rest was personal cash.

I personally know the person that owns the property and am close friends with him.

I would recommend targeting 30 day minimum rentals (Most associations are 90+), allowing 12+ rentals per year (most allow 1-3), and no in-person screening for tenants required.

This is not personal, but if a person cannot save money now real estate is the worst investment to get into as it is one of the most cost intensive businesses to be in.  

Personally, my strategy (in the midwest) has changed over the past few years and BRRRR hasn't been the go-to approach as much.

These are my personal takeaways:Real estate has been more passive for me.

these investors were all chasing easy OOS cash flow:https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/48/topics/1137397-balti...https://www.biggerpockets.com/forums/52/topics/1010977-12-00...if you're serious on investing in an OOS market i'd pick one, get to know it, go to it in person, and build a team, and then determine what would you need to do to get a good return in that market. 

Would even be happy to meet in person since we are in the same area.

If you are sole member LLC you just take a distribution from your business account to your personal account.You are likely already reporting the income on a schedule E.

The second part is very personal and different for everyone.