I’ve done a couple of fix-and-flip projects in the past using a hard money lender (HML), which has its pros and cons.I’m currently looking at a couple more properties and trying to decide if I should go with an HML again or explore other financing options.

The #1 reason that landlords fail is due to failure to manage to the lease (Source: American Apartment Owners' Assn). 

Even the Cybertruck owners.8.

You absolutely need 1099s for them.What about owner-financed interest?

Secondly, short-term rentals provide flexibility for owners, allowing them to potentially use the property themselves when not rented out.

They might refuse since you are not the owner.

California is the only state that has essentially put a rent control type of restriction on home owner insurance premiums.

I would decide which route is best for you.

You paid the property owner $40,000 in rent.  

@Jonathan S. you'll get burned if you buy real estate rentals and do not, "manage your manager".Even the BEST make mistakes and no one can catch every mistake.So, it takes a team effort between a PMC and an owner to make it work:)