For now, my immediate goal is to pay off all of my credit card debt (should be accomplished by February 1.), and continue to educate myself on NOI, Cap rate, cash-on -cash return etc.BP community, I am open-minded, willing to take initiative, always willing to be taught something new, but also ready to share any experience or knowledge I have that can help someone else. 

I know it is still down season, so listings are thin (especially for MF which is our preferred route), but it is starting to discourage me; like we've already missed the train of cheap debt and rapid appreciation/inflation that so many others took advantage of in recent years.Are my expectations set too high for my target area? 

How much debt do you have on your home at this point and what is your monthly mortgage & HELOC payment?

Look into a DSCR, Debt Service Coverage Ratio, loan where the rental income can be used to qualify the cash out refinance instead of your personal income.To Your Success! 

If I create a debt fund that offers 9% interest on first lien notes with a 5-7 year payout, would that be attractive to high net worth investors?

Trying to decide if we should use a home equity loan for the remodel, do we need to put current home under LLC to help with debt to income ratio & would that affect getting the home equity loan?

Eric,, I think why people go for the fund model is the idea that they are spreading their money into multiple notes being held by the company.. while in theory this is great but as you noted you don't really have any security compared to being the beneficiary of the debt instrument IE debt is in your name. 

I've litigated personal injury cases (plaintiff's side and ID), business disputes, commercial debt, consumer debt, fraud, civil rights, contested foreclosure, real estate disputes, and landlord-tenant cases.For the past year and a half, I have been spending most of my time digging into small business acquisitions.

I also have a lot of connections that offer debt funds. 

Keep in mind most REI is a combination of monthly cashflow and appreciation.