Quote from @Victoria Phifer: I don't recommend charging anything on a credit card unless you have total control of your finances and can pay off the balance every month.I charge everything I can to credit cards, but I pay the balance off every month, 100% without fail.

It’s fantastic that you and your wife are diving into this together—especially with her passing the real estate exam.

I think Chris nailed it perfectly - you have to take your DD to another level and also be in a position, both financially and contractually, to take control of the situation if the borrower defaults.

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.

And now the sales have slowed too, so hopefully turning the corner for a buyers market.Don't forget its an election year and inflation isout of control.

Approximately 87% of Clark County (where the Las Vegas metro area is in) is under federal control.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Agents can't be controlled.

Work with what you can control and let go of arbitrary rules. 

This is a situation outside of my control.