Are there other pathways I should consider, based on my goals and experience?

Unless the borrower is self employed and takes a lot of expenses to show lower income on their returns then it usually makes sense to pay a couple thousand a year in higher interest (you can pay like 4,000 a year in additional interest for DSCR if you are saving 30+k on your tax bill kind of math lol)

It was an enormous rehab and I didn't have the experience or the contractors to take it on.

Given my experience in the field (5 years) not much but still counts right?

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

Quote from @Mary Holland: I'd love to hear about your experiences and how they compare to other types of commercial real estate financing.

What’s required for success in this is deep knowledge of real estate in general and the area in particular; experience in real estate and the local laws, etc.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.  

If that's the case, if it's a flipper with zero development experience, no way would I have any interest

Please feel free to schedule a call on my calendar to discuss our experience in Indy.https://calendly.com/lordoftheinns

Even if they do have 20 years experience...how do you know really?