On the other hand, true private lenders are not professional lenders and hedge fund type lenders (which is what hard money lenders are), but instead are regular people in your circle and sphere of influence.

The rental is currently managed by my husband and I and I do the paperwork and lease etc, and hire contractors or husband does light repairs.

He is a realtor that I previously purchased a small portfolio from and therefore had a good professional relationship.

So, I am not a "professional wholesaler". 

If you have hired a specialist to perform a cost segregation study of your real estate property, they will likely use one of the six most common methodologies recognized by the IRS.

This shows due diligence, not distrust.For seeing the property, if it’s your first deal, consider visiting or hiring a third-party inspector for peace of mind.

There are several hurdles during the process:Find the deal - Unless you are marketing or plugged into a community where there are opportunities, it isn't always easy to find the right dealsEvaluate the deal - Without professional guidance and research tools, it is difficult for a newbie investor to evaluate and ARV/FMV or create an adequate rehab budgetSecondary exit strategies - If things don't go as planned are their other opportunities to exit profitably.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Readers should seek professional advice.

I prefer to not hire an attorney unless I must because I am afraid it will cost a lot of money.