Hard money lenders are basically prohibited from lending on a primary residence under Dodd Frank unless they have a special licensing.

This area of Florida has a lot of options as there are several military bases and of course the white sand beaches.

I would say 2 points for one day funding is reasonable ($1500-$2000 as "minimum") specially when you're dealing with the direct lender not a broker.

@Nicholas KaniaI recommend finding an accountant who specializes in real estate taxation, business taxation, and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Freddie Mac and Fannie Mae, kind of like special lenders, offer good rates but need well-kept properties with lower down payments and longer payback times.

Every state has a unique set of laws and regulations regarding the foreclosure process, so your ability to succeed will depend largely on where you're operating.Also, all three of these require advanced skills and background, so I wouldn't necessarily start here.That said, if you do then be sure to get top-notch training and complete deal documentation from folks who have seen at least one full real estate cycle.Rather than specializing so soon in your real estate career, I would instead recommend just getting in front of as many real estate owners with problems.Just getting really good at talking (and listening!) 

Caveat, experienced investors rarely "shop" they usually have one or two lenders that specialize in certain products, keep all of the investor's data on file with current documents and they tend to care more about convenience, experience, and just getting the deal closed so they will continue to go to the same lender who can make that happen. 

Do you specialize in residential or commercial market?

(Google Florida condo special assessments)  And, you are correct, the HOA can impose numerous limitations that prevent it from being a good investment.

In addition, if you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLCsuch as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a speciality trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.