Hard money loans are loans based on (mostly) the value of the asset, eliminating or reducing the other criteria used for most mortgage loans of borrower credit, financial condition, and sometimes even cash flow of subject property.  

My mortgage is less than $1000 and I get $1500 in rent, when realistically I could get $1600+.If you can manage to put 5% down and get a traditional loan, your PMI and fees will be less than going the FHA route which will reduce your costs.I don't have a ton of properties, but this is what my experience has been.  

We now budget for vacations, home improvements, car savings, medical savings, Christmas fund, etc... 

A few things i've considered doing next is finding a quadplex, investing in an RV park, investing in medical offices.What should I do next?

I am setting a loan in SC for 6 units that will be using the seller in 2nd. position-this greatly reduced the down payment for my client!

Reduce Taxes through depreciation (If you don't meet the IRS definition of a real estate professional, it won't improve any W-2 income taxes)2.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

There is a ton of new/newer construction around there that has come online the last 2 years in the medical district and most of those buildings have had real challenges.

He claimed that the market had changed since the fall of 2023 and that he could no longer go through with the original deal unless we reduced the assignment fee by $15,000.

Starting smaller might help you gain confidence and reduce potential stress.In your situation, if you're comfortable hiring a property manager to handle day-to-day operations while you’re working in the oilfields, going for the 4-plex could make more sense, especially with your high income.