I agree with this high level (Private Money = Individual, Hard Money = Company Non-Turnkey Product).I've been begging (mostly to no avail) for better clarity and definitions here for these to avoid confusion - BiggerPockets IMO has a HUGE opportunity to set and create the "gold standard" universal definitions of loan types with just a little initiative. 

I am looking purchasing my first STR in the Upper Peninsula of Michigan.

Everything should be on the same design level.

Properties that were undervalued just a few years ago are now turning solid profits for those who can complete timely renovations.Low Inventory: With inventory levels continuing to tighten, the demand for well-renovated homes is higher than ever.

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

I recommend going with a boutique local manager or even self-manage (it's not as intimidating as it may seem, and profit levels skyrocket).

All signs point to 2024 ending close to 2023 levels in terms of transaction volume. 

Increased Buyer Interest: When prices are adjusted to more realistic levels, properties become more attractive to potential buyers, leading to increased interest and potentially faster sales.3.

The upside is, even with a personal guarantee, the mortgage will not show on your personal credit report.Lastly, in both, while LLCs do offer a level of protection, which is certainly valuable, they also require more work.  

Thats a different perspective.. the guru's cannot be national gurus and be at the street level  too many students in to many time zones.