I feel so fortunate to have found BiggerPockets, as it’s been a goldmine of information and resources.Currently, I’m leaning towards the BRRRR strategy as my primary niche.

However, my future plans with REI involve transitioning my primary income from nursing to REI.

Cash flow is actually not it's primary strength.

Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.

While it provides a steady income stream and potential appreciation, it demands active management, thorough tenant screening, and may involve higher vacancy risks compared to traditional leases.

traditional Lessons learned?

For your existing primary, you will need to have it leased with the security deposit and first month's rent collected.

Nabby,Best way to first get into real estate is to buy your first primary home since the down payment can be zero to 3% down.

I didn't know if it was easy to close a SDIRA and roll it back over to a traditional or not if my investment pipeline runs dry.Thanks

You can make SFR work but extremely tough in traditional sense.