I own the property free and clear and i use the equity as part of my business line of credit.

I'm interested in entering the hard money lending business.

Quote from @Dan Farsht: I am looking to connect with other hard money lenders in the upper Midwest (our business is currently concentrated in the Greater Milwaukee Area). 

So thats the reality from my point of view I made a business out of this for many years and my dad made a business out of this in the 70s through the 80s so lots of experience at it. 

Numbers always look good on paper but between holding costs when acquiring and renovating property, closing costs on can also add up.I am not saying it cannot be done, as I did it with about 75 loans in a very similar fashion (except I was buying NPL's and got them reperforming).

Why are you interested in this business?

Firstly, becoming a multifamily agent is a fantastic way to learn the business first hand while making some cash in the process.

Same principles apply - being busy will create opportunity. 

I have watched her grow her business since the beginning stages.

To make taxes easier we set up a business checking account and had all the rent paid into that account and all the expenses paid out of that account.