(If curious, my residential real estate investor clients from 10 years ago [you can find my 10 year old bigger pockets dot com posts :], at the time buying up 2-4 unit properties, a lot of them are now done with the 'human' tenants and want to 1031 into something that is ACTUALLY passive, so yes Starbucks comes up, thus I watch it).In my case I zoomed all the way into a specific brand (which then allows me to make very sweeping generalizations across an entire state -- but still not the entire country), I'm not suggesting you do that, but SOME of the variables need to be narrowed down, before you can gain any useful insights. 

Understand the basics of private lendingResearch real estate marketsDetermine your investment strategy and criteria for loans, including:- Amounts- Interest rates- Repayment termsCreate legal documents with a lawyerNetwork with real estate professionalsPerform due diligence on potential borrowers and their projectsBegin with smaller loans to gain experienceMonitor your investments closelyConsider joining a private lending group for additional resourcesStay informed about real estate trends, lending practices, and legal regulations

The best advice on this topic, in my opinion, comes from 2 books:How to win friends and influence peopleNever eat aloneI am also looking for brokerages to work with or even experienced shadow / intern for to gain experience and additional knowledge.

Make sure you're paying attention to taxes and insurance as well!

Analyze properties that need only minor updates and start small to manage costs and gain experience.

They’re generally easier to manage and can help you gain valuable experience in property management.When you’re ready to scale up and try strategies like the BRRRR method out of state, it’s crucial to have a strong local network.

The numbers seem promising on paper, but I’m hoping to gather insights from locals or experienced investors who know the area well before moving forward.One thing that has caught my attention is the rental landscape.

This will minimize the tax burden of the gain you currently have and defers any other gain through the 1031 giving you more buying power going into the future.

Because I want to continue investing, avoiding paying the personal gains is what my mind is occupied with. 

Attention to detail is a big one for me, make sure when they wrap up jobs they do the right work and finish the job clean without having a ton of stuff missing