Like right now funding land flippers in rural CO.. and that is a spectacular  market for us.. have not gone vertical. then you can go to private money like Builders Capital  Peers of mine in the industry dont care for them.

Also would love answer to the following: - Are there any specific challenges or advantages you experienced compared to a JV structure?

That's it, but a) print out a page for each property you think is comparable, b) make the list of repairs long and inclusive of everything you've done. c) Put larger items first like kitchen remodel......and don't just say 'kitchen remodel', list things like 'custom backsplash tile/Bosch appliances/recessed can lighting/pot filler/etc. d) Cite the price/value of the work done, and don't be afraid to be generous.

Go to Eliteinvest.com in Chicago look at what a real full gut rehab is and compare.  

You could be in an expensive market, like LA, but you inherited a property or you got a killer wholesale deal or subject to and the numbers could be very attractive compared to buying off the MLS for full market price in the same market.

I mean can you consistently provide an industry standard finished product similat to what the licensed trades would provice)

These lenders essentially take the profits that rightfully belong to their clients—a practice that is not only unethical but destructive to the industry as a whole.The reality is there are plenty of good deals in the market.

Sadly it is always overvalued for the locals as well.For context: the same comparable duplex a client purchased for $750k last february 2023 in Lil Havana is now asking $925k.

No, they are not 100% passive, but NOTHING you do in a REIT, stocks, Bitcoin, or MLM can come close to comparing. 

Risky too compared to just holding stocks or bonds.I'm not even worth that much money so I have to ask the more experienced and successful investors on this forum: what keeps you going?